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Gold Price Forecast: Gold Threatens Larger Break, 1854 Support in Sight

May 9, 2022

Via: DailyFX

Gold prices started off the week with another aggressive sell-off. Last Monday marked the May open for Gold and the yellow metal slid down for a fresh two-month-low before finding some support at prior resistance, taken from the swing at 1854.

That price at 1854 remains relevant: This was the swing high in January and it showed as resistance briefly in February, before prices gapped-through in the middle of that month, eventually building three days of support at that spot before the bullish trend extended.

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