Gold remains overshadowed by the prospect of higher interest rates. The price has been struggling to find buyers after it hit resistance at the psychological level of 1800, which was also a former demand zone on the daily chart. A short-lived bounce to 1765 met stiff selling pressure, suggesting that the bears have doubled down. 1739 is a support-turned-resistance after its breach left bullion vulnerable to a new round of sell-off. 1705 at the base of a breakout in late July would be the next level to see if there is enough long interest left.
