Gold Trend 06/05 – Let’s the S-T rebound begins

Gold tested the 2280 support 3x last week, with the lowest hitting a 4-week low of 2277. The gold price held on to the 2280 support following a relatively neutral Powell's Fed announcement and weak US employment data. Since the price has bottomed out near the end of last week, expect the gold price to initiate a rebound in S-T. 1-Hr Chart - The gold price has rebounded quickly each time after it touched the 2280(4) support last week, showing strong buying near the 2280-5(4) level. The downward t