Last Updated Date: 28 June 2021 @ 5:56 AM (UTC)
*Please note that all the dates are in GMT time zone
Gold was up on Monday morning in Asia as investors digested the U.S. Federal Reserve’s mixed signals on monetary policy tightening after the release of tame inflation data.
Overall the GOLD market is bearish, but the reversal rebounds at the end of last week hint for retracements to test 1794.0 resistance. A close over 1792.0 is short term bullish and should promote rallies to 1863.0. A close under 1774.0 could send selloffs to test last week’s low and 1761.0.
Resistance 2 1794.0
Resistance 1 1790.0
Support 1 178.0.0
Support 2 1774.0