FX.co ★ Short-term view on Gold.

Gold price is trading around $1,820. Gold price is in the middle with almost equal distance from key resistance and key support. In previous posts we noted the long-term triangle pattern Gold is inside.

Green line - support

Gold price has key resistance at $1,855 and support at $1,785. Gold price has also retraced almost 61.8% of the entire decline from $1,854 to $1,779. If bulls manage to push above $1,825, then we could see price reach the red resistance trend line. A rejection at current levels could bring Gold price back towards the green support trend line. Until then traders need to be very cautious and patient.