Gold Prices Steady As 1900 Within Reach

The precious metal is struggling to maintain the gains made from Tuesday. Price action is rather mixed and likely to close with an inside bar.

In the near term, this could lead to a possible breakout in the short term.

However, the upside bias gains as the 1900 level will be most likely tested for resistance for the first time.

If the gains are capped here, we could expect to see price drifting back lower.

However, the 1850 level is coming in as a soft support area that could keep prices from falling further.

Below the 1850 level, gold prices will be looking at the 1817.80 region next.