Gold continues to trade with no clear directional bias as the 1970 resistance level continues to limit significant upward moves.
As the DXY consolidates between 102 and 102.50, Gold is likely to maintain within the current range of 1936 and 1970.
Although the longer term view of the US Dollar is for further weakness, the current retracement on the DXY is presenting some downside potential for Gold.
Look for Gold to trade down to the 1936 key support level in the short term.
As the DXY consolidates between 102 and 102.50, Gold is likely to maintain within the current range of 1936 and 1970.
Although the longer term view of the US Dollar is for further weakness, the current retracement on the DXY is presenting some downside potential for Gold.
Look for Gold to trade down to the 1936 key support level in the short term.
