Technical analysis: Gold price is at risk of diving beneath $2,300
After diving on Monday and forming a “bearish engulfing” chart pattern, the Gold price hit a two-week low of $2,291. However, XAU/USD buyers push prices above the $2,300 figure, but they’re not out of the woods yet. For them to stay in charge, they must lift Gold above the $2,350 psychological level, which could pave the way to challenge $2,400.
If they surpass that level, up next would be last Friday’s high of $2,417, followed by the all-time high of $2,431
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