Main Scenario: As long as Gold stays above 1770 the main trend will be still upwards. Then the precious metal may go down to to 1790 price level
Target Expectation: 1790
Considerations Supporting The Scenario:
Gold prices fell to a one-week low on Wednesday, weighed down by firmer U.S. Treasury yields with investors awaiting policy cues from the Federal Reserve’s statement, while palladium eased after scaling a record high in the last session.
Alternative Scenario: An alternative expectation may be taken into account in case of a close below 1770
Alternative Target Expectation: 1762