Gold prices remain resilient even though a risk-on approach is still dominating markets. The support level of $1,550 was able to generate a solid rebound, with prices that are playing close to $1,660.
Technically the situation is unchanged, with the first support level still placed at $1,550, while a rise above $1,562 could open space for further recoveries with a potential target of 1,575. The strength of the greenback and stock rallies, at least for now, are not supporting the gold price.
