FX.co ★ Analysis of Gold for March 31,.2021 - Second target reached at $.679 but potential for even bigger drop

US MBA mortgage applications w.e. 26 March -2.2% vs -2.5% prior

Latest data from the Mortgage Bankers Association for the week ending 26 March 2021

Prior -2.5%Market index 730.8 vs 747.0 priorPurchase index 297.3 vs 301.9 priorRefinancing index 3,242.1 vs 3,325.3 prior30-year mortgage rate 3.33% vs 3.36% priorFurther Development

Analyzing the current trading chart Gold , I found that Gold reached my second downside target at $1.679 and that is trading sideways today.My advice is still to focus on the downside opportunities on the rallies with new downside target at $1.645.

Key Levels:Resistance: $1.700Support levels: $1.645