Gold precious metal on the Daily Chart has been in a downtrend since 20 February 2019 when it registered the high price at 1346.61. On 18 April 2019, Gold precious metal recorded the low price of 1271.07. Applying Oscillator Analysis on the price chart, one can notice that price is trading below the SMA 60 period Moving Average line, a fact that confirms the downward direction of Gold. Furthermore, the MACD (Moving Average/Convergence Divergence) Oscillator is recording values below the zero line which hints to the bearish bias of financial instrument. Additionally, the RSI (Relative Strength Index) Oscillator registers values below the fifty line which indicates negative sentiment. All three technical indicators are in agreement for the downward bias of the financial instrument. Applying the Fibonacci tool on the price chart, three price targets may be calculated. The first price target is estimated at 1262.46 (161.8%). The second price target is seen at 1232.79 (261.8%). The third price target is projected at 1184.79 (423.6%). The Gold is currently trading below the downtrend line. Of course, supply and demand as well as the crowd sentiment will determine the course of Gold. Though the market is currently following the counter trend direction, this might just be a correction, as long-term trend remains bearish.