A firm US dollar is weighing on gold as Treasury yields hold ground. The recovery stalled after the price broke below the rising trendline, denting the optimism for a swift rebound.
The precious metal is likely to stay range-bound until a catalyst, be it fundamental or technical, triggers a breakout.
1718 is a key support and a bearish breakout could deepen the correction towards 1700.
To the upside, bulls will need to remove 1745 to bring back confidence. After that, an extended rally may carry the price to 1780.
