Technical Analysis: Gold price stays firm near $2,320
Gold recovered some ground despite forming a “bearish engulfing” chart pattern, which opened the door for a pullback. Although buyers have the upper hand on Wednesday, they are not out of the woods yet. They must push Gold’s spot price above the April 19 low of $2,373, so they can remain hopeful of testing $2,400. Once achieved, the next stop would be Friday’s high of $2,417, followed by the all-time high of $2,431.
On the flip side, if XAU/USD prices dip below the April 15 daily low of $2,324, that would pave the way to test $2,300. A breach of the latter will expose the March 21 high at $2,222
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