The Gold market went into the overbought condition at the price of $1.346.00, which is a sign that buying looks risky. In our view, downward correction is the potential scenario to happen on Gold. Support is seen at the price of $1.325.00 and again at $1.302.00. Key short-term resistance is set at $1.346.00.
Trading recommendation: We exited our long position on Gold on the breakeven and now we are neutral to bearish.
