Gold price made new lower lows today below $1,688 and the September 1st low. However in the intraday chart, despite the new low we see buyers stepping up supporting Gold price. With the RSI in the 1h chart turning upwards from oversold levels, I expect over the next few hours for Gold price to bounce higher most probably towards $1,700-$1,705 which was previous support. Gold's chart justifies such a bounce but it is not necessary. Short-term and medium-term trend remain bearish.
