Gold Rises as Investors Stay Cautious

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The precious metal is posting modest gains on Monday as the US elections are underway.

Price rose over 0.50% intraday, following up from last Friday’s bullish close.

Still, prices are likely to approach the 1900 – 1911.50 level once again. Given that this level established support earlier on, a retest could see sellers stepping in.

A breakout above this level could, however, shift the bias to the upside once again.

For the moment, price action is likely to consolidate near this level.

Watch the possible hidden bearish divergence forming which could signal a move back lower in prices.

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