Staff Reporter Islamabad
Gold price is likely to face further loss this week and go down towards $1,855 an ounce.
On the daily chart basis, the Relative Strength Index (RSI) indicator fell to its lowest level since late April, suggesting that buyers are having a hard time staying in control.
Additionally, gold tested the ascending trend line coming from early May for the third time on Friday.
A daily close below that line, which is currently located around $1,873, could open the door for additional losses toward $1,855 (June 4 low) and $1,840 (200-day SMA).
