The precious metal was weaker on Thursday but is still hovering near a six-year high. Price has remained fairly flat over the past few days. Gold investors await further cues from the trade narrative which has subsided for the moment. With the markets expecting to hear the Fed and the ECB layout the policy guidelines for the next quarter, gold is likely to hold flat at the current levels.
XAUUSD Bias to the Upside Builds Up
The precious metal extended declines on Thursday. However, prices will test the lower support at 1527. A breakdown below this level will see gold prices declining further. The next downside support is at 1508 level. Below this level the next downside is at 1485 region.
