Gold recovered after the first round of peace talks between Ukraine and Russia ended without a resolution. The precious metal found support over 1885.
The rising trendline from early February indicates that the general direction is still up despite a choppy path. The previous peak at 1974 is now a fresh resistance and its breach could send the price to the psychological level of 2000.
The downside risk is a fall below the said support. Then 1852, near the 30-day moving average, would be the bulls’ second line of defense.
