Gold price is in the red zone near $2,250 early Tuesday, consolidating the corrective move lower from the record high of $2,266 set on Monday.
Gold price turns red for the first time in six trading days ahead of US jobs data on Tuesday. US Dollar rebounds on pared June Fed rate cut bets after sold ISM Manufacturing PMI. Gold price corrects after hitting the Bull Flag target at $2,251, where next? Gold priceis in the red zone near $2,250 early Tuesday, consolidating the corrective move lower from the record high of $2,266 set on Monday.
Further south, Thursday’s low of $2,187 will be challenged, followed by the bullish 21-day Simple Moving Average at $2,168. Should Gold buyers regain upbeat momentum, a retest of the all-time high at $2,266 will be in the offing, followed by the $2,270 round number. The next on Gold buyers’ radars will be the $2,300 psychological level. Gold FAQs Why do people invest in Gold? Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange.
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