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Gold Prices Back Near 1967 Resistance

Sep 15 2020, 05:46 PM (+06) | Orbex.com

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The precious metal is trading stronger on Monday, with gains driven by a weaker USD and the Fed meeting.

Price action is a few points away from the 1967 level which held up as resistance earlier on.

A breakout above this level could give way to further gains, with the next challenge near the 2000 handle.

To the downside, prices are well supported near the 1911.50 region.

The confluence of the trend line and the horizontal resistance could, however, pose a challenge for gold prices in the short term.

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