From a technical perspective, there seems to be little significant change in Gold prices, and any further upward movement is likely to face strong resistance near the $2,000 mark. The next related barrier is set around the $2,008-$2,010 area, or the multi-month high touched last Friday. Price speculators aiming for an uptrend need to wait for sustained strength to overcome the aforementioned barrier before positioning for the next related resistance near the $2,022 area.
On the flip side, the $1,980 area appears to be currently guarding against immediate declines before the weekly low, around the $1,970 mark, established last Wednesday. Further selling activity could reveal the intermediate support level at $1,964 before Gold prices ultimately decline towards the $1,954-$1,953 area.
On the flip side, the $1,980 area appears to be currently guarding against immediate declines before the weekly low, around the $1,970 mark, established last Wednesday. Further selling activity could reveal the intermediate support level at $1,964 before Gold prices ultimately decline towards the $1,954-$1,953 area.
