Gold Prices Likely to Resume Declines

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The precious metal made attempts to recover from the losses over the week.

However, the rebound remains weak for the moment, with the overall set up looking bearish.

Following the rebound off the 1850 handle, gold attempted to make some gains.

For the moment, the hidden bearish divergence from the Stochastics suggests a move back to the downside.

As a result, this could see the 1850 level of support being tested a bit more firmly.

Following this, gold prices might remain trading flat above the 1850 handle for the short term.

However, if the 1850 handle is lost, then gold prices could be looking at a further downside in the near term.

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