Gold has declined to our core target of $1,900/1,890 and with the rising 200-DMA seen not far below at $1,856 we look for a floor in this $1,900/1,856 zone.

We look for $1,856 to hold on a closing basis for strength back to $1,985 initially, then a retest of major resistance at the $2,063/2,075 record highs. We still stay biased to an eventual break to new record highs later in the year, which would then be seen to open the door to a move above $2,300.

A weekly close below $1,856 would be seen to reinforce the longer-term sideways range, and a fall to support next at $1,810/05.