Gold Prices Steady Above 1817.80

Gold is trading soft with price action comfortably settled above the 1817.80 level for now.

As long as this level holds, the precious metal could continue to hold on to its sideways range.

The upside threshold is seen near the 1850 level. The bias remains mixed with the Stochastics oscillator moving closer to the oversold levels.

This could potentially offer a rebound in prices off the 1817.80 level of support.

But in the case that gold prices lose this support, then the downside momentum could increase.

It could mean that gold prices could be back to testing the 30 November lows near 1823.61.