The gold price returned to decline in its last intraday trading, after gaining some of the positive momentum from the stability of the main support level at$3,200, which helped it to recover some of its early losses and attempted to offload some of the clear oversold conditions on the (RSI), but the negative pressures remain the dominant.

Our expectations suggest more downside movements in the upcoming trading, in case of breaking the support of $3,200, to target the next support at $3,150.

The expected trading range for today is between $3,150 support and $3,265 resistance.

Todays forecast: Bearish

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