Following gold price's rapid decline from 1830 in late June to 1730 in mid July, it seems like the decline is slowing down.
As the DXY retraces from its recent high, but with gold failing to find strong buying sentiment, the price of gold is likely to sit in consolidation at this level.
However, further downside is still expected, if the DXY resumes with the upward trend. The next support level is at 1700.
As the DXY retraces from its recent high, but with gold failing to find strong buying sentiment, the price of gold is likely to sit in consolidation at this level.
However, further downside is still expected, if the DXY resumes with the upward trend. The next support level is at 1700.
