FX.co ★ Gold: strong buyers with 1,735 in focus

Gold Range Pattern!

The price of gold registered strong growth in the short term. Now, it was trading at the 1,734 level at the time of writing. In the short term, it's trapped between the 1,735 former high which represents an upside obstacle, and the 1,713 previous low which stands as a downside obstacle.

Escaping from this pattern could bring new opportunities. Technically, after its failure to drop below 1,713, XAU/USD could resume its growth.

Gold Trading Conclusion!

Jumping and stabilizing above the 1,735 upside obstacle could activate further growth and could help the buyers to catch a larger upwards movement.