Gold prices had a bad start at the beginning of the trading week. Gold prices start the week's session breaching 1506.00 but began to fall after it was rejected at 1508.20 as per the previous estimate. Gold prices slipped below the last line of defence at around 1501.60 and had a freefall to 1491.50.
Gold prices continued down to 1485.30 in yesterday's trades but managed to regroup at the bottom of the price channel and now seems to have eased the downside pressure. Gold currently trades at 1489.22 at the time of reporting and perhaps it just a matter of time before heading back up. The current support is at 1485.30, 1480.85, and 1475.10. Targets at 1491.50, 1493.80, 1497.65, and 1501.60
Gold prices continued down to 1485.30 in yesterday's trades but managed to regroup at the bottom of the price channel and now seems to have eased the downside pressure. Gold currently trades at 1489.22 at the time of reporting and perhaps it just a matter of time before heading back up. The current support is at 1485.30, 1480.85, and 1475.10. Targets at 1491.50, 1493.80, 1497.65, and 1501.60
