Gold price has recovered after the selloff we saw last week, with the market trading higher during Asian trading hours. It has traded in the range of $1190-1196 today, despite the market being quieter than usual due to Eid and Summer holidays.
We expect the market to edge even higher in the coming days due to the main investors being away from the market.
The physical market is quieter due to the Middle East and Turkey away this week.
Gold’s first support lies at $1170 now and resistance was on $1200 .
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