Gold bounced off 1210 and rallied to 1220

13 July, 2017

Gold bounced off 1210 and rallied towards 1220 on Tuesday. The spot remained in a downward channel and just approached its upper boundary. The level rejected the price in the late European session. The price bounced from the level and moved to 1215. The resistance exists at 1220, the support stands at 1210 dollars per ounce. The downtrend is likely to be continued. The yellow metal may reach 1210 in this scenario.


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