Gold Price Analysis: Pushing against session highs at $1,730

•  Gold futures’ regain lost ground to push against session highs at $1,730.
• XAU/USD bounces up with equity markets mixed as risk sentiment fades.

Gold futures bounced at $1,712 lows after a weak opening on Wednesday and have managed to regain lost ground to consolidate right below session highs at $1,730, barely changed through the day. XAU/USD dropped sharply on the Asian and early European sessions with stock markets in green, to find support at $1,712 and regain lost ground with the major US indexes mixed.

So far, the pair remains limited below the mentioned $1,730 level which is closing the path towards early June highs at $1,745 ahead of multi-year highs at $1,765.

On the downside, below $1,712, the pair might gain bearish traction and aim towards June 15 lows at $1,704 and then towards $1,685 on its way to early June lows at $1,670.

XAU/USD 4-hour chart

XAU/USD key levels to watch