Gold price begins positively – Analysis - 03-08-2020

Gold price opened today’s trading with new rise to attempt to breach 1981.20 level, but it faces solid resistance and finds difficulty to surpass this level, to keep the price confined between this resistance and 1937.20 support, which keeps our neutrality valid until the price manages to surpass one of these levels.

We remind you that breaching the resistance will lead the price to resume the main bullish trend and achieve new gains that start at 2000.00 and extend to 2068.00, while breaking the support will press on the price to visit 1910.10 and might extend to 1866.00 levels as additional correctional targets.

The expected trading range for today is between 1935.00 support and 2010.00 resistance.

The expected trend for today: Neutral