➡️ At the beginning of the new week, the price of gold returned to the red zone. Support for the metal is currently at 1917.520$. It is expected that buyers in the area will be attempted to recover. But most likely there may be false breakout, so it is not recommended to immediately buy from the level. Moreover, this will contribute to a more reliable entry point to the long.
Fundamentally, gold will be in demand, so buy priority here as well. In the scenario described above, one should set a target at the level of 1950$, fix part of the profit and wait for the price to possibly approach higher to 2000$.
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.