XAUUSD: Continuing downtrend!
Updated
After opening the week lower, gold prices have stabilized above the key 200-day Simple Moving Average (SMA) slightly below $1,920. In case this support remains intact ahead of next week's highly anticipated August inflation data from the US, investors may hesitate to bet on further XAU/USD weakness.
Support levels: 1,907.30 1,893.90 1,884.70
Resistance levels: 1,921.80 1,933.30 1,944.85
Support levels: 1,907.30 1,893.90 1,884.70
Resistance levels: 1,921.80 1,933.30 1,944.85
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