Gold prices are still trading near their recent levels, as prices approach strong support levels or the lower side of the rectangle. If prices drop and break these levels at $1970 and close below them, there will be a strong selling opportunity with targets reaching $1945 as the first target. However, if the price stays above these levels, the likelihood of a rise and increase towards the $2012 levels is higher.
From a technical perspective, it appears that gold is trading in a range between the support level and the resistance level of the rectangle. It is important to keep an eye on the price action at these key levels to determine the next direction of the market.
