Corrected gold, Alert Support 1150

Gold prices fell under pressure in the area during the day to $ 1,152 per troy ounce, after earlier reaching the highest area since July 7 2015, $ 1168 per troy ounce. There has been a consolidation of the market price after the price rose quite high of about $ 50 since Wednesday (19/8).

Prices are now in the range of $ 1,154 and still looks depressed. However, if prices can hold above the support area in 1150, prices are still likely to strengthen back into the area from 1160 to 1168.

While the massive downside pressure could push prices broke through key support in 1150 with a potential target area for 1145-1138.

Today PMI Manufacturing Eurozone and the United States could be a market mover for gold prices.