FX.co ★ Elliott wave analysis of Gold for June 19, 2023

Gold is now ready to challenge the all-time high near 2,070 again. After a correction to test support at 1,935, we look for gold to re-test the all-time high near 2,70. A break above the all-time high will call for a continuation higher to 2,400 and likely 2,700.

For now, support is seen in the 1,925 - 1,935 area which we expect will act as a floor for the test and likely break above resistance at 2,070.