Gold: Bullion Technical Outlook

Gold: Bullion Technical Outlook

A break below $1,908 will force spot gold to retest the $1,900 support, under which immediate support stands at $1,885,

“For now, the major downside potential for spot gold is seen at $1,850,” he said.

On the flip side, clearing through the $1,930 barrier will extend gold’s upward move towards the next leg higher, which is the descending weekly Middle Bollinger Band of $1,950,

“This zone can act as a turning point for spot gold,” he added.