A range market near fro the cheapest price for the yellow metal
Market is trading on a declining symmetrical triangle, 1225 and 1162 represent the expected trading range for gold. Breaking 1162s levels would activate the accelerated breach scenario toward 1148, 1132 levels.
However, the market is expected to be traded on a range zone with higher volatility, because the major inflation rates or even outlook have not been changed yet, and even a delay for The Fed Rate hike.
Daily Trend: Down
Weekly Trend: Range