FX.co ★ Analysis of Gold for May 08, 2023 - Rejection of the key support at $2.000

Technical analysis:

Gold has been trading downside on Friday due to the positive economic data in US but I found rejection of the key support at $2.000 and potential for the further upside continuation.

Due to rejection of the support zone and strong upside trend in the background, I see potential for the further growth.

Upside objectives are set at the price of $2.060 and $2.078

Short-term support is set at the price of $2.000