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The precious metal is trading flat with price action failing to breakout above the 1911.50 – 1900 level of resistance.
For the moment, the bias is to the downside, with price down over 0.43% intraday.
However, this holding pattern is likely to break as the US election landscape starts to clear.
The bias is mixed with the risk evenly balanced on both sides. Given that the 1900 – 1911.50 level has proven hard to break out from in recent times, we could expect a move lower.
To the downside, the 1850 handle remains the prime level of support in case of a decline in prices.
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