FX.co ★ Short-term Gold analysis.

Gold price continues to respect the $1,900 but has mostly been moving sideways for the last couple of weeks. Gold price has been rising towards $1,950-60 area only to get rejected and turn lower towards $1,900.

Blue lines- trading range

Gold price is trading inside the blue trading range since the middle of March and after making an intraday low at $1,894. Gold price has made three attempts so far to break above $1,95-60 but failed so far in all three. Price has tested $1,900 similar amount of times and bears were unable to keep price below $1,900. It is clear that in the short-term trend is unclear and traders should be very cautious.