Gold has been trending downwards since the 11th of February 2016, with the bears leading the price from as high as 1263.16 to as low as 1211.79.
On Friday, the precious metal price close at 1237.82 and open today at 1232.29, with the price fell further in the Asian Session down to 1211.79. In the event that the buyers manage to gain momentum and push the price above 1231.46, the price could reach 1237.24 and 1243.87 respectively.
On the other side, where the sellers keep exerting strong pressures and the price breaks below 1190.40, the price could decelerate down to 1173.20 and 1152.03 in extension.
Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.