Gold broke the upward price channel and tended to decrease

Gold edges higher in the early morning Asian session in a likely position adjustment, with focus on U.S. CPI data and the FOMC meeting this week. The precious metal is still holding above $2,000/oz, a key short-term support level, Fawad Razaqzada, market analyst at City Index and forex.com, says in an email. Gold has to hold this level in order to sustain its recent bullish bias, Razaqzada says. Otherwise, there could be a deeper retracement, with subsequent major support in the $1,950/oz area, which includes the 200-day average, Razaqzada adds. Spot gold is up 0.1% at $2,006.58/oz.


XAUUSD XAUUSD SELL 2008 - 2010,2018-2020

✔️TP1: 2003
✔️TP2: 1998

🚫SL: 2025