Main Scenario: As long as Gold stays above 1858, the main trend will be upwards. Then the precious metal may up to 1877 price level
Target Expectation: 1877
Considerations Supporting The Scenario:
Gold prices gained on Tuesday, with worries over more persistent inflation keeping bullion’s appeal as a hedge against higher prices intact, despite a stronger U.S. dollar and elevated bond yields.
Alternative Scenario: An alternative expectation may be taken into account in case of a close below 1858
Alternative Target Expectation: 1842