Gold Price Forecast: XAUUSD to extend its range play around 200 DMA Gold XAUUSD
“Having recaptured the key 200 DMA barrier at $1,843, gold bulls are struggling to reclaim ground above the horizontal 21 DMA, now at $1,848. A firm break above the latter will put the $1,850 psychological mark to test. Up next, the recent rage highs near $1,858 will test the bearish commitments if bulls manage to flex their muscles.”
“On the downside, the immediate support is likely to emerge at Friday’s low of $1,834, below which XAU bears will aim for the $1,830 round figure. A sharp sell-off could be on the cards on a sustained move below the latter, exposing June 16 low of $1,816. The last line of defense for gold buyers is seen at the rising trendline support at $1,810.”Information on these pages contains forward-looking statements that involve risks and uncertainties.
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