The recent repeated failures to break above $1680 supply zone suggest that the path of least resistance for gold is to the downside. However, for now we may see Gold to move sideways between $1640 - $1660 until further price action signal. The commodity should test $1660 - $1670 before the move down towards $1630. The USD buying will weight on Gold price. The traders will take cues from the broader market risk sentiment to grab short-term opportunities around the XAUUSD.
Trade closed: stop reached