23.06 - Gold prices probe two-day winning streak
- by George Solotarov
Gold traders recover the latest losses while revisiting the day-start levels around 1,755 during the pre-European session on Tuesday. The bullion refreshed the monthly high the previous day. However, failures to cross the May month’s top push the sellers to search for opportunities to enter.
While $1,731 may offer immediate support to the precious metal during its fresh weakness, a confluence of 50-day SMA and a three-month-long rising trend line, around $1,718/17, becomes the key level to watch.