After breaking the late-December uptrend that formed shortly after gold prices broke out of the September descending resistance channel, XAU/USD is now on the cusp of a familiar but critical support zone. Breaking below the lower tier of the 1551.96-1557.10 (gold-dotted lines) range opens the door to testing a floor at 1535.69 (white-dotted line). Gold Prices – Daily Chart XAU/USD chart created using TradingView From a fundamental perspective, the path of least resistance supports the case for a continuation of the bearish correction. Conversely, if XAU/USD bounces back from this range, the precious metal’s rise may ... (full story)