Gold is a precious metal that is widely used for investment, jewelry, and in various industrial and technological applications. The price of gold is influenced by a variety of factors including supply and demand, interest rates, and geopolitical events.
Technical analysis, which uses charts and past price data to identify patterns and predict future price movements, is often used by traders and investors to inform their decisions about buying and selling gold.
- The rally was sold and the dip bought resulting in mild net losses yesterday.
- Buying posted in Asia.
- Bespoke support is located at 1877.
- We have a 78.6% Fibonacci pullback level of 1880 from 1867 to 1928.
- Preferred trade is to buy on dips.
Recommendations: Buy/Buy limit @ 1880 Target/TP: 1920
