Gold Prices Pause As Momentum Slows

The precious metal is seen slowing down its gains following the recent breakout.

There seems to be a technical resistance near the 1774.50 handle.

Still, at the time of writing gold prices are attempting to break out above this level. This will keep the 1800 level within sight for the precious metal.

However, there is also a risk of a pullback. We could expect to see a possible correction if gold prices close below the recent intraday lows of 1766.87.

A daily close below this level could see a move to the 1747 handle, followed by a retest of the 1732 level in order for support to be established.

Test your strategy on how gold will fare with Orbex - Open your account now.