Gold price faces downside risk on break of 200-DMA and $4,350 critical support – Societe Generale

Gold's recent break below $4,500 per ounce has brought fresh downside risk to the yellow metal, and a key cluster of technical levels is now acting as critical support to prevent a further 10% slide, according to commodity analysts at Societe Generale.In a new note, Societe Generale analysts noted that gold has been under significant pressure since prices dropped below their 50‑day moving average (50-DMA) two months ago.