Gold Slips as Risk-On Sentiment Improves

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The precious metal is trading weaker and is likely to regain the bearish momentum.

Following the sharp declines on Monday, gold attempted a rebound failed.

This led to a lower high with prices pulling back once again.

As a result, the 1850 level of support will be back into focus.

As long as this support holds, gold prices could trade flat. But the risk of a break down below this level increases.

A close below 1850 handle will see prices falling to test the 1817.80 level of support next.

The upside bias remains weak for the moment.

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