Gold traders are utilizing retracement and MA levels on the daily and the hourly charts

The price of gold, on the daily chart, saw a sharp correction after peaking at an all-time high at the end of January. The selloff took the price down to a low near $4,395 in early February before staging a strong rebound into the March 2 high at $5,416. However, despite ongoing geopolitical tensions, including the war in Iran, the subsequent move has been lower, with price extending to a March 23 low at $4,098.27.That low was technically significant.