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Gold Trades Weaker As Downside Bias Builds Up

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The precious metal is trading weaker on Thursday following the failure to post any fresh highs.

Price action rallied towards the highs of 1812 but failed to make any major gains beyond this level.

As a result, gold prices flipped and is currently pushing lower. The 1800 level is likely to be tested once again.

There is also a chance that gold prices might close below 1800 heading into the weekend as traders book profits.

A close below 1800 could potentially expose gold prices to correct lower to the 1780 handle where support will be tested.

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