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The precious metal is also bearing the brunt of a stronger greenback.

Price fell to a four-week low, extending upon the sharp declines from Wednesday.

This puts price action on track to test the 1850 level of support that has formed.

The bias remains to the downside for the moment, as long as price action remains within the current trend.

Any signs of a move to the upside will need to see the precious metal clearing the 1911.50 – 1900 level which has stepped in as resistance.

Below the 1850 level, the next key support area for gold comes in at the 1817.80 region.

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The post Gold Dips to a Four-Week Low appeared first on Orbex Forex Trading Blog.


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