FX.co ★ Analysis of Gold for September 04, 2023 - Buyers in control and potential for the further upside continuation

Technical analysis:

Gold has been trading sideways at the price of $1.943 but I see potential for the further rally due to rejection of the support zone in the background.

Due to the rejection of the support in the background and the short-term upside trend, I see potential for the further growth toward upside reference.

Upside objective is set at the price of $1.952

MACD oscillator is showing upside reading, which is good sign the buyers are in control.

Key support is set at the price of $1.934