Gold price may tumble below the $1,800 mark. The risk flows are improving while Greenback is gaining momentum that may weigh on the precious metal. US ADP and ISM figures are important to watch ahead of the NFP report. The gold outlook is slightly bearish as the US yields are mildly rising while risk flows have improved, weighing on the safe-haven status of the gold. –Are you interested to learn more about day trading brokers? Check our detailed guide- In the early European session, gold traded with a slight positive bias, despite no follow-up buying and staying below Monday’s multi-week highs. It is estimated that the delta variant of the Coronavirus, which currently hovers around $1,816, contributed to a degree to the safe haven of XAU/USD. A disappointing consumer confidence index from the Conference Board on Tuesday came in at 113.8, a six-month low which raised market worries. Gold traders were inhibited from aggressively betting against it, resulting in their failure to make further profits. A bullish sentiment underlying financial markets was considered a key factor holding back the precious metal. Get FREE Forex Signals Now! The risk flow increased the US Treasury yield, providing a bit of support for the US dollar and not allowing commodities denominated in dollars to gain traction. On Friday, investors may decide to stay on the sidelines while the US employment data is released. A closely watched NFP report may provide new clues about when the Fed may begin lifting its pandemic-era stimulus and raising interest rates. Thus, it will play a crucial role in determining where unforgiving gold is headed next. Trade could be boosted later in the early North American session by the US economic data released Wednesday, including the ADP Private Employment Report and the ISM-PMI for Manufacturing. –Are you interested to learn more about forex signals? Check our detailed guide- Gold price technical forecast: 200-SMA to provide support Gold 4-hour price outlook The gold price is consolidating near the tops above $1,800. The price is lying above the 20-period SMA on the 4-hour chart. The average daily range for the asset is 31% so far. The price structure and volume look quite weak at the moment. There may be some due correction that can drag the price under $1,800. The 200-period SMA around $1,794 may provide some respite. We consider it a key level that may determine the directional bias of the market. Looking to trade forex now? Invest at eToro! Trade Forex Now! 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Saqib Iqbal Saqib Iqbal Saqib Iqbal is a market analyst, prop fund trader and mentor, serving the industry with his analysis and educational content since 2011. The author has great exposure to different financial markets and institutions. He's well-known for his day trading reviews and multiple timeframe analysis. View All Post By Saqib Iqbal Commodities share Read Next Chainlink Price Up By 8%: Time To Buy LINK Before The Next Jump Gerald Fenech 1 year Gold price may tumble below the $1,800 mark. The risk flows are improving while Greenback is gaining momentum that may weigh on the precious metal. US ADP and ISM figures are important to watch ahead of the NFP report. The gold outlook is slightly bearish as the US yields are mildly rising while risk flows have improved, weighing on the safe-haven status of the gold. –Are you interested to learn more about day trading brokers? Check our detailed guide- In the early European session, gold traded with a slight positive bias, despite no follow-up buying and staying below Monday's multi-week… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.