#XAUUSD @ 1696.89 Gold Price Forecast: reignites downside towards 2021 lows at $1,677
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Gold price is extending the previous bearish reversal to trade back under the $1,700 mark. XAU/USD eyes 2021 lows of $1,677, FXStreet’s Dhwani Mehta reports.
“Should the downside momentum extend, a test of the 2022 low of $1,681 will be inevitable. Further down, the 2021 low of $1,677 will be next on bears’ radars.”
“If bulls attempt a recovery, then it will challenge the $1,700 threshold first before recapturing the $1,710 round figure. The next upside target is seen at $1,716, the 23.6% Fibo level support-turned-resistance.”
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