The price of gold threatens the monthly low ($1754) after failing to test the July high ($1814), and failure to defend the opening range for August may lead to a further decline in the precious metal as it extends the series of lower highs and lows.
GOLD PRICE THREATENS MONTHLY LOW AFTER FAILING TO TEST JULY HIGH
The price of gold trades back below the 50-Day SMA ($1776) as it gives back the advance following the Federal Open Market Committee (FOMC) Minutes, and bullion may track the negative slope in the moving average to largely mirror the price action from June.
