Technical analytics


Gold opened red on Thursday. The spot started the day from 1300 and continued its negative bias afterwards. Sellers were driving the price downwards the whole night and the morning. XAU/USD approached 1290 in the early European session. We believe gold prices will continue their negative slide and will retake 1290 in the coming hours. They may dip further after that and may advance down to 1280 during the day.