The precious metal is recovering following last week’s decline from a fresh nine-year high.
Price action is trading around the 1783 level with the 4-hour chart signaling a Doji candlestick pattern.
This could potentially either signal a continuation or a reversal to the recent uptrend. Prices are still a little away from the 1800 level.
Any near term dips could, of course, attract new buyers into the market.
The price level near 1773 remains a likely spot to hold the precious metal from further declines in the near term.