Gold still stuck in a range
Bron: IG
The bounce in the gold price has stalled below $1515 once again, although given the sharp move higher over the past week the rally may not yet be defeated.
A close above $1520 opens the way to $1535 and on to $1557. If the $1480-$1515 range holds then we may see a retracement back to the bottom end of the range. Friday’s dip to $1505 did manage to find buyers.