Gold Sell Of on Hold

The sell off in the precious metal has been somewhat troublesome as Gold has been going through support zones and SMA levels without a sign of a halt. Currently, Gold is seen to be taking a breather from the steep downfall at its current market price of $1,210.

The precious metal dipped to $1,204 last week and market participants were quick to get their longs as it went right to the previous low made in July 2017.

The precious metal is facing a dilemma now whether to continue its short term trend to the downside or move up using the support level with increased momentum and trust. Some experts are already eyeing the $1,000 level amidst a stable US economy and healthy signs of growth.

Chart: XAU/USD D1