Gold is currently trying to hold on but the bears seem to be overpowering. The next support below sits at $1,825.

From a technical viewpoint, we can see that gold has tried to hold on the last few days but the bearish pressure is overpowering. Looking on the daily interval, support below sits at $1,825 (yellow trendline) then at $1,797 (orange) then at $1,784 (red). A break below the red trendline may see the price of gold decline as far as $1,72, which would suggest a longer-term bearish trend could be forming. However, the long-term bias is still positive with a resistance level at $1,872 then at $1,881 then $1,890. A break above $1,890 could see the price continue higher back up to the $1,900 level. Both of the technical indicators are currently negative with an RSI reading of 40.