Bullion price is trading between $1,950 and $1,980 and slightly above the $1,949.83 support. US Durable Goods Orders data is expected to drop 1.0%. If the selling trend continues, a drop to the stronger supports at $1945 and $1930 is possible. Gold prices will continue to fluctuate until the market reacts to US economic data and announcements from the US Federal Reserve. The 20-period exponential moving average (EMA) at $1,969.26 is acting as resistance for gold, while the relative strength index (RSI) (14) has dipped below 48.00 , indicating bearish momentum.
