IN THE NAME OF ALLAH THE MOST GRACIOUS THE MOST MERCIFUL
IT IS NOT ONLY A RUNAWAY RALLY IN GLOBAL BOND YIELDS IS PUTTING PREESSRE ON GOLD. BUT FROM A TECHNICAL PERSPECTIVE AS SEEN ON THE CHART ABOVE THE 50 DAY MOVING AVERAGE CROSSED BELOW THE 200 DAY MOVING AVERGE AT RUOGHLY $1830 AND IF GOLD SETTLED BELOW $1785, FURTHER PAIN COULD BE IMMENENT
BE CAUTIOUS :- THE NEXT DOWNSIDE TARGET COULD HIT $1700
FINALLY, U SHOULD KNOW THAT THE $1700 IS IMPORTANT PSYCHOLOGICAL SUPPORT AND IF WE WERE TO BREAK DOWN BELOW IT , WE WILL OPEN THE DOOR TO AN EXTENSION OF DOWNSIDE TOWARD SUPPORT IN THE $1660-$1670 REGION, POSSIBLY EVEN THE $1635 LEVEL OVER THE MEDIUM TERM
