Gold is guided by the dollar, but it is bullish

By the last decade of March, the value of gold recovered and returned to the target range of $1,350- $1,400 per troy ounce. On Monday, March 26, the precious metal was trading at $1,346.20 and slightly declining, but observing the behavior of the foreign exchange market, gold has a chance to continue the rising channel.
The main driver for the precious metal is the behavior of the US dollar. If the greenback continues to fall, gold will rush to the highs of last winter to levels $1364- $1365 per troy ounce. If for the greenback there are options to stabilize in the euro/dollar pair, gold will consolidate in a wide range of $1330- $1345. The nearest significant resistance levels are at $1354 and $1360, and support levels at $1,330 and $1305.