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Gold Prices Pause As Momentum Slows

Posted On 25 Jun 2020
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The precious metal is seen slowing down its gains following the recent breakout.

There seems to be a technical resistance near the 1774.50 handle.

Still, at the time of writing gold prices are attempting to break out above this level. This will keep the 1800 level within sight for the precious metal.

However, there is also a risk of a pullback. We could expect to see a possible correction if gold prices close below the recent intraday lows of 1766.87.

A daily close below this level could see a move to the 1747 handle, followed by a retest of the 1732 level in order for support to be established.

About the Author
“John Benjamin Resident Analyst at Orbex. John has over 8 years of experience specializing in the currency markets, tracking the macroeconomic and geopolitical developments shaping the financial markets. John applies a mix of fundamental and technical analysis and has a special interest in inter-market analysis and global politics.” [space height="10"] At Orbex, we are dedicated to serving our clients responsibly with the latest innovations in forex tools and resources to assist you in trading. Please Director at Visit our site for more details.

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