Gold picks up the bids near $1,785, up 0.50% intraday, while heading into Tuesday’s European session. The yellow metal dropped to the five-month low the previous day, before bouncing off $1,764.60. However, the south-run needs confirmation from the downside break of rising wedge’s support, at $1,780.70 now, before eyeing the latest multi-month low near $1,764.
Meanwhile, an upside clearance of $1,786 resistance confluence needs to cross a falling trend line from November 26, currently near $1,798 before confirming the further recoveries. During the quote’s sustained run-up past-$1,798, the $1,800 round-figure holds the key to further north-run towards September’s low around $1,849.