Gold Prices Steady Below 1900

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The precious metal continues to trade flat with price action entering a tight sideways range below 1900 and above 1880.

The sideways range comes as the news of the Coronavirus vaccine offsets the new number of cases in the US.

For the moment, the sideways range will continue but we could see this breaking out anytime soon.

To the upside, the key challenge will be to close above the 1911.50 – 1900.00 level.

While to the downside, the support area near 1850 remains strong for the moment.

With the bias mixed, the strength of the breakout could dictate the next direction in the trend.

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