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The precious metal gained strong momentum as it initially approached the key resistance level of 1929.80.

The bullish gains saw a sharp move to the upside with the 1967 level as the next key target.

It is possible for gold prices to continue building upon the current momentum.

However, further gains can be ruled out if the 1967 level of resistance is not breached.

This could make for a pullback to the 1929.80 level where support could form.

It would potentially strengthen the case for the precious metal to breakout past the 1967 resistance level.

The next key target then would be the 2000.00 level once again.

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