Main Scenario: As long as Gold stays below 1768, the main trend will be downwards. Then the precious metal may down to 1711 price level
Target Expectation: 1711
Considerations Supporting The Scenario:
Gold prices held steady on Tuesday, as concerns over a potential fallout of Chinese property developer Evergrande’s unsolved debt crisis provided some respite to the safe-haven metal against a firmer dollar and elevated U.S. Treasury yields.
Alternative Scenario: An alternative expectation may be taken into account in case of a close above 1768
Alternative Target Expectation: 1793