Closing of $ 1,750 per troy ounce, gold was again under pressure after reporting on Wednesday that CME Group has raised margin requirements. The precious metal has tested support, located in the area of $ 1746, which is 38.2% correction of the upward movement of gold from July to August 23. However, it is the psychological support that lies at $ 1700, does not allow the metal to fall below. According to one analyst TheBullionDesk, James Moore, an increase in margin requirements, as well as the expectation that the Fed will resort to further stimulate the economy will continue to have a negative impact on gold. Moore adds that the correction of the metal may be 50% of traffic from a minimum of the first of July to a maximum of 23 August, ie up to $ 1695 per troy ounce. At the moment, the spot price for gold is held in the middle of the daily range at $ 1721.50 an ounce.
