Gold retreats from $2698. Will drop to $2640?
Gold is seen facing resistance and selling pressure after witnessing retail traders preferred to book profits as price action lacked strength to surpass $2700
As long as the metal trades below immediate resistance zone $2670-$2675, downward shift in momentum is likely to extend towards $2660-$2650-$2640
On the flip side, strong break above $2675 will push the metal further upside towards $2690-$2700
As long as the metal trades below immediate resistance zone $2670-$2675, downward shift in momentum is likely to extend towards $2660-$2650-$2640
On the flip side, strong break above $2675 will push the metal further upside towards $2690-$2700
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