Gold remained to trade on a weak note, as it slightly breached below the weekly swing low.

The yellow metal was not capable to break the neckline of head and shoulders model at $900 and fell down, hinting that the first conservative target of $845 is on the right track.

The weekly momentum oscillator maintains with a downbeat crossover of the moving average and is close to give a crosswalk under the zero line.

The oscillator on the every day charts is dealing below the zero line. It has yet again given a bearish crossover of the moving average, in support of the bearish preconception.

The gold has given a weekly close below the 200-daily exponential moving average (DEMA) in addition to the 40-weekly exponential moving average (WEMA) that will provide buoyancy to the bears to take the prices further down.

Analysts said that the bearish bias with the trailing reversal pegged at $900.