Gold holds at support near $1700

Gold thus far is holding quite well on the technical price charts as the $100 break in price has apparently revived the huge physical market buyers who are seeing value in the metal near the $1700 level.A closing push through $1725 would be constructive and would set the market up for another test of the resistance barrier near the $1750 level, which held the market in check prior to last week’s breakout.Considering the spanking that this market received yesterday, it is showing very good resilience.

Author: Trader Dan

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