Gold struggles as risk appetite returns amid ceasefire talks. A fall below 1940 forced those hoping for a swift rebound to bail out.
On the daily chart, gold’s struggle to stay above the 30-day moving average suggests a lack of buying power. Sentiment grows cautious as the metal tentatively breaks the psychological level of 1900.
A drop below 1880 could make bullion vulnerable to a broader sell-off to 1850. An oversold RSI attracted some bargain hunters, but buyers need to lift offers around 1940 before they could expect a rebound.
