XAUUSD Surges Over 4%

Gold prices are rising over 4% as price action broke past various resistance levels.

The gains came following the major resistance level 1534 was breached quite easily.

At the time of writing, gold prices are trading above the 1600 level.

Amid the current volatility, we expect prices will rise toward the 1700 handle. Alternately, a close below 1586 could see the downside bias opening.

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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