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Price action in the precious metal is somewhat choppy. But so far, gold is holding up firmly above the 1750 level.

For the upside to continue, gold needs to close out above the June 24th highs of 1779.15. This will potentially set the upside target towards the 1800 level.

However, given the fact that gold barely tested the support near 1747, we could expect a decline back.

A firm support area forming near 1747 might confirm the upside bias. In the near term, we could see gold settling between 1779.15 and 1747.

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