The precious metal touched down below 1817 intraday to a one-month low. However, prices quickly reversed losses to rise above this technical support.
For the moment, prices remain above the 1817 level and could see some upside. But only a close above the 1850 level can confirm this.
In such an event, gold prices are likely to extend gains further. This will open the way for the precious metal to test the next key resistance level near 1911.50.
To the downside, only a strong close below the 1817 level will confirm further downside in prices.
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