Gold price is auctioning in a neutral channel on a two-hour scale that indicates a volatility contraction due to the absence of critical economic events. The precious metal has picked strength after dropping to near the 100-period Exponential Moving Average (EMA) at $1,802.20. Also, the 200-EMA at $1,793.35 is aiming higher, which indicates that the upside bias is still solid.
Meanwhile, the Relative Strength Index (RSI) (14) is oscillating in a 40.00-60.00 range, which signals that the Gold price is awaiting a fresh trigger for a decisive move.
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