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Gold Prices Remain Aimless

Posted On 17 Jun 2020
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The precious metal continues to trade flat.

However, prices in the safe-haven asset remain steady despite equity markets posting strong gains.

The risk-off sentiment has so far left gold prices untouched.

The support area near 1724.62 remains key for now. Even a breakdown below this level is unlikely to do much as we have seen prices reversing before testing the 1700 level.

Only a close below the previous lows might confirm the downside in gold toward the 1700 level of support. For now, we expect the sideways range to continue.

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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