Gold Price Forecast: XAU/USD’s path of least resistance appears down, eyes on 2022 lows of $1,681

Gold price stays vulnerable. For how long can XAU/USD defend $1,700 support? FXStreet’s Dhwani Mehta reports.

More losses remain in the offing

“Sellers need a daily close below the $1,700 threshold to bring the 2022 low of $1,681 back in the spotlight. However, the $1,690 support area could impede the bearish momentum.”

“The immediate resistance is seen at the previous day’s low of $1,710, above which, $1,720 – the previous intermittent lows will be probed. Buyers will seek control above the latter, adding strength to the recovery towards the rising trendline support-turned-resistance at $1,745.”