GOLD 24/07: Looking forward to the new week

GOLD In the event that the Gold Price still falls through the $1,930 level, the possibility of seeing a drop towards the round figure of $1,900 and then to the yearly low of $1,893 marked in June.

Additionally, the support-turned-resistance line has lasted since early July, around $1975 at press time, defending the immediate upside in XAU/USD price.

Accordingly, the previously mentioned multi-week-old horizontal resistance zone around $1985 will be noticed.

If Gold Price still rallies past $1,985, a round figure of $2,000 will act as the ultimate defense against the bears.

Overall, Gold prices are likely to continue to fall but the road south is long and bumpy.

Trade ist aktiv:

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Trade ist aktiv:

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