Bullion finds temporary respite in the wake of mixed nonfarm payrolls. The price action is hovering above July’s low and a critical floor at 1680. This is a decisive moment as a breakout would invalidate the previous recovery and send the precious metal into a bearish spiral. A combination of profit-taking from short-term traders and bargain hunting from medium-term traders may drive the price higher. 1724 is the first resistance and its breach could lift offers to the support-turned-resistance at 1745.
