Gold Rebounds Higher Into Friday’s Close

The precious metal recovered from the losses from Thursday as price action turned bullish.

Gold prices managed to steadily climb into Friday’s close, settling at 1809.96. This, however, marks a lower high.

Gold prices have found it difficult to break out about the nine-year highs of 1817.79. Therefore, if the consolidation continues, we might see a correction unless gold manages to close above the 1817.19 price area.

To the downside, the 1800 level remains a key support area for now, but a close below this level will open the way for a test toward the 1779.16 level of support.

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