Gold prices traded in a tight range of $1,950 to $1,980, after falling below $2,000. Incoming US Orders data is expected to show a 1.0% decline, versus a 3.2% gain. Gold price is currently slightly above support established in April at $1,949.83. If the current selling trend continues, the price can move towards stronger support levels at $1945 and $1930. Gold prices are likely to continue to fluctuate in a range with a downtrend until the market reacts to US economic data and announcements from the US Federal Reserve. The 20 EMA at $1,969.26 is acting as a resistance for the Gold price, thwarting any uptrend. The relative strength index (RSI) (14) has dipped below 40.00 showing that the downside momentum is justified.