The precious metal is trading back near the technical resistance level of 1712.47.
As the sideways range is maintained, we expect prices to drift lower.
There is also a trend line that will come in as dynamic resistance keeping a lid on the upside.
As a result, gold prices will likely settle back within a range of 1712.47 and 1691.76 in the near term.
The bias is starting to shift to the upside on the ascending triangle pattern.
