Gold

Key Indicators

• Price action remains weak. However, price is approaching a key area of interest, where ascending support aligns with the $3,940/00 zone, which could act as a demand area.

Fundamental Context

The gold price is rebounding after buyers found short-term support below the $3,950 area. Technically, the metal is now correcting losses. However, despite the rebound, any gains are merely rallies that could bring up better areas to short.