Gold analysis: Reaches June low level
|Gold
On Monday morning, the decline of the price for gold continued. In total, since Friday morning, the price had lost almost 2.50%. However, at 10:00 GMT on Monday, it appeared that the price had found support in the June low level just above the 1,855.00 mark.
In the case that the metal recovers, the price could reach for the resistance of the 1,875.00 level. This level provided both resistance and support throughout June.
Meanwhile, a potential decline would look for support in the 1,843.80/1,846.00 zone, which played a significant role in mid-May.
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