Midday update for Gold 11-07-2023

Gold prices trades with clear positivity to breach 1929.00 level and head towards potential test to the key resistance 1945.20, which makes us stay aside until we get clearer signal for the next trend, through breaching the mentioned resistance or breaking the support line formed at 1929.00.

Note that the continuation of the rise and breaching 1945.20 will push the price to achieve more gains and open the way to target 1977.25 areas on the near term basis, while breaking 1929.00 represents the key to resume the bearish trend that its targets begin by testing 1913.15.

The expected trading range for today is between 1905.00 support and 1940.00 resistance.

The expected trend for today: Bearish