Gold Forecast and Reports: Gold trades around $1,925 still unable to attract investors as per trading in quite a limited intraday range. Yellow Metal has been flat for over a week, with daily candles showing little to no bodies, as the risk-averse environment boosts demand for both safe-haven assets.
Gold (Yellow Metal) Intraday chart shows that the price is challenging the lower boundary of the recent trading range near the $1,908 region.
A sustained break below the latter will call for a test of the ascending 50-Daily Moving Average (DMA) at $1,903.
The next critical support is seen at the March 29 low of $1,888.
The 14-day Relative Strength Index (RSI) is inching lower while just beneath the midline, suggesting that there is room for the additional downside.
On the upside, the 21-DMA at $1,941 will be the first test for gold bulls on the road to recovery, above which the previous day’s high of $1,945 will be challenged.
Acceptance above the latter will expose the previous year’s high at $1,960, which will emerge as a tough nut to crack for gold buyers.
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