Following a bullish opening to the week, Gold went into a consolidation phase and retreated below $2,350 on Monday. Rising US Treasury bond yields and expectations of Israel avoiding a further escalation of the conflict with Iran weighs on XAU/USD
.
As observed on the four-hour chart, Gold price is defending the 21-Simple Moving Average (SMA) at $2,356, at the moment.
Initial topside target is seen the intraday highs of $2,373, above which the $2,400 round figure will be tested again.
Gold now buy 2356
Target 2360
Target 2364
Target 2370
Target 2400
SL 2340
.
As observed on the four-hour chart, Gold price is defending the 21-Simple Moving Average (SMA) at $2,356, at the moment.
Initial topside target is seen the intraday highs of $2,373, above which the $2,400 round figure will be tested again.
Gold now buy 2356
Target 2360
Target 2364
Target 2370
Target 2400
SL 2340
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