Gold Silver Reports (GSR) – Spot Gold may Bounce to Resistance at $1,302/oz- Technicals — Gold prices recovered some lost ground on Wednesday on short-covering after prices fell to the lowest level this year in the previous session on surging U.S. bond yields and a stronger dollar.
Spot Gold Critical Support
Spot Gold Critical Support @$1,300 Level
Gold Silver Reports (GSR) — Spot Gold Critical Support @$1,300 Level — While selling pressure has undoubtedly been a significant component of this recent decline, it is dollar strength that has been the predominant factor taking gold to its current pricing which is at a critical support level. This support level is crucial because of two technical indicators: Fibonacci retracement and the 200-day moving average.