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Gold struggles below 200-day moving average, Societe Generale notes

Societe Generale flags resistance near the recent pivot high around $4,315, with support seen near $4,095 and the June/July trough zone at $3,960 to $3,940.

Reported · Written up by our desk · Precious Metals

Societe Generale analysts say gold has not been able to hold above its 200-day moving average, which they view as reinforcing downward momentum.

They note a short-term pullback is underway, with key resistance near the recent pivot high around $4,315.

For support, the analysts project levels around $4,095 and point to the June and July trough zone at $3,960 to $3,940 as a crucial area for the metal.

Latest closeGold $4,157.80 ▲0.4%

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