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The precious metal failed to make further gains beyond the 2000 level. Prices only briefly traded near this level before giving up the gains.

Following the failed test at 2000, the precious metal fell lower, breaking past the 1967 level of support.

At the time of writing, gold prices are currently attempting to recover the losses.

Still, the 1967 level will now come back as resistance unless the precious metal can recover higher above this price region.

For the moment, the 12th August levels near 1881 remain the lower bound floor for gold prices. A break down below this level will extend declines down to the 1817 handle next.

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