Gold price may have found its floor as liquidation gives way to consolidation – Saxo Bank

Gold is still failing to break above the initial resistance near $4,200, but a strategist suggests the worst of the months-long correction’s selling pressure may be over. Net effect is modestly constructive as the market potentially transitions from heavy selling to stabilization.

Analysis

Gold is still failing to break above the initial resistance near $4,200, but a strategist suggests the worst of the months-long correction’s selling pressure may be over. Net effect is modestly constructive as the market potentially transitions from heavy selling to stabilization.