Gold Prices Settle Back Near 1850

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The precious metal is trading flat as prices pulled back after briefly rising above the 1850 handle. For the moment, the precious metal is hugging the 1850 level of support.

As long as this support holds, gold prices have further room to rise. The next key challenge will come with the 1911 – 1900 region.

Establishing resistance at this level will be critical for price action. But only a strong break out above this level will confirm further gains to the upside.

If gold prices lose the 1850 support, then price action could drop back to the 1817.80 region next.

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