Gold prices have recently been influenced by a myriad of factors, with bullish sentiment among retail traders being the most notable. Despite this bullish sentiment potentially providing upward pressure on gold, analysts warn that the precious metal remains at risk of a downturn. Fundamentally, gold is approaching its initial target 1,900 psychological level, which could serve as a pivotal decision point. Moreover, from a technical perspective, gold has seen some upward movement in the past few days but still needs to breach certain key resistance levels.

Technically, gold is striving to surpass its recent highs. A successful breach could pave the way for further ascension. However, if gold encounters strong selling pressure at this crucial level from 1,980 level, a pullback in prices might ensue. Traders should keep a close eye on this pivotal level of 1,900 and adjust their trading strategies based on market dynamics.