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The precious metal is seen trading flat on Thursday, following the modest gains made a day before.

Still, price action remains within the confines of Tuesday’s high and low.

A breakout from this minor range could trigger further gains or losses. The bias remains mixed with price trading back near the 1900 level.

The 4-hour stochastic oscillator is also pushing slightly higher from the oversold level.

Overall, gold prices have also formed a higher low, which gives more weight for a move to the upside.

But a lot will depend on how price will react after breaking out above the 1911.50 level.

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