Gold dropped near $1700 as US dollar rallied earlier today. However, it quickly moved up towards $1712. XAUUSD corrects from three-week highs after rejection at the 50 DMA at $1724. $1700 area could offer temporary support below which the previous day’s low of $1695 could be revisited. We are still looking to buy Gold as long as it is above $1700.
Comment:
Gold target $1720 reached successfully.
Trade closed: target reached