Gold price is treading water above $2,170, awaiting a fresh batch of high-impact economic data from the United States (US) for the next push higher.
Gold price consolidates the rebound from a key support on Thursday. Dollar finds buyers amid firm Treasury yields, as top-tier US data grab eyeballs. Gold price needs a daily close above $2,180 to refresh record highs. Gold price is treading water above $2,170, awaiting a fresh batch of high-impact economic data from the United States for the next push higher.
The next key upside targets are seen at the $2,200 threshold and the $2,250 psychological level. Conversely, the initial demand area is seen at Wednesday’s low of $2,156. A failure to defend that level will test the abovementioned powerful support at $2,145 yet again. Further down, the static support at $2,125 will come to the buyers’ rescue. The last line of defense for Gold buyers is aligned at the 38.2% Fibo level of the same ascent at $2,116.
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