Gold Prices Back Near 1850 Technical Resistance

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The precious metal is trading over 1% on Tuesday.

The gains come amid fresh talks in the US Congress about a new proposed coronavirus stimulus bill. If this bill is passed, this would put an end to the weeks of speculation in the markets.

Gold prices have been trading rather flat after rising above the key support level of 1818.80 in early December this year.

For the moment, the technical resistance level of 1850 is being tested once again.

However, the stochastics oscillator on the four-hour chart is likely to print lower.

This could mean that gold prices could once again retreat back and settle within the range of 1850 and 1818.80.

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