STRATEGY:

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