The precious metal is making a modest pullback following Monday’s declines.
After briefly slipping past the 1900 level, gold is back near the 1900 region.
We could expect to see some consolidation taking place near this level.
If price action turns bullish above 1911.50, we could see some near-term gains being made.
However, the continued consolidation below the 1911.50 level could mean that the precious metal could head lower.
Below the 1900 round number, the next key target for gold comes in the 1817 region.
While this is a far-off target, gold could continue to maintain the correction.