International Gold is in consolidation mode since 16th of July 2018. Currently trading in a very tight band largely trading within a $10 range over the past week, with the price respecting the $1206 and $1216 levels. Broader range compression ranges from 1205 – 1230 levels in the last one month. The compression in the gold is getting so long on the 4 hourly charts which mostly ends up in a larger price action move.
Now gold is trading around 29480 ($1601) & as we can see on charts, gold reach to 29900 area almost & then fall back to support area but unable to break the support area.