Gold is trading near multi-week high near $1680 amid weaker US dollar. XAUUSD reversed an early European session dip to the $1667 and climbed to a fresh daily to. Gold price confirmed a descending triangle formation after closing Friday above the resistance at $1650. The buyers need to reclaim the previous day’s high at $1682 in order to start a fresh rally towards the $1700. Meanwhile, $1660 zone would act as immediate support and there the sellers may step in. We are long Gold as long as it is above $1660.
Trade closed: stop reached
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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.