After a $50 drop in gold price, what to expect from Monday?


After the dramatic drop in the price of gold at the end of the week by around $50 per ounce, an interesting start to the new week is shaping up.
Levels above $2,315 per ounce provide strong support for gold. If the price of gold breaks through $2310, we can expect a serious downward movement towards the price of $2285. But in general, the scenario of an upward movement from the first day of the new week is more realistic. Our advice is to keep an eye on the $2310/15 level and buy at those levels. If a breakout occurs, exit the position.

Source: World-Signals

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