Gold prices looking weak

Mumbai-India (May 9)  Gold prices edged lower below the intermediate support of 31,200-levels on Wednesday afternoon.

 On the hourly chart, RSI is well below 60-levels, indicating low momentum in prices. The overall trend looks weak on an intraday basis as prices are trading below the pivot level.

 If gold sustains 31,200, then prices may edge lower towards 31,060-levels on an intraday basis.

HFL