Gold Price Jumps Higher, Bulls Targeting 1857 200 DMA

Gold price technical forecast: Next levels to watch

The precious metal may move towards the $ 1,860 mark. This is the top of a gap that has yet to be filled. If gold fills the gap, it is likely to head towards the $ 1.915 level.

In case of further breakdown, the precious metal could rise much higher, possibly to the previous high of $2,100. On the other hand, if the gold rate breaks the lower boundary of the trading session candle, it will drop to the $1750 line. This area has proven its importance more than once, so after breaking it, the next stop will be a “double bottom” around $1675. A break below will send the asset towards $1500.

(Click on image to enlarge)

Gold price on daily chart

Gold price on daily chart

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