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- Gold price to face tough resistance at $1800 - OCBC
Gold price to face tough resistance at $1800 - OCBC
FXStreet reports that strategists at OCBC Bank expect gold price to attempt the $1800 level this week if the bullish momentum within the precious metal complex continues.
“Our model sees a fair value range for gold from $1735 to $1845, so at the current level, gold is somewhere near the middle of this range.”
“The FOMC minutes is likely to determine gold’s next near-term direction, where a hawkish report may send gold tumbling once more.”
“From now till the report, we expect the upward momentum in gold to carry it towards the $1800 resistance.”
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