Gold Price (XAU/USD) remains dicey after pushing back the bearish bias with the first positive weekly close in five. The Yellow Metal’s latest inactio
n could be linked to the market’s anxiety ahead of this week’s top-tier US inflation and employment clues. In doing so, the XAU/USD fails to cheer the latest retreat in the US Treasury bond yields and the US Dollar, as well as China-linked optimism in Asia.
Elsewhere, China announced one more measure to bolster economic activities but the mixed concerns about the US-China trade ties and fears of slower recovery in one of the world’s biggest Gold customers prod theMoving on, this week’s China activity data and the Sino-American talks in Beijing will be crucial to watch for the Gold traders for clear directions.
It’s worth noting that the previous monthly low and the bottom line of a Bollinger indicator on the four-hour chart, close to $1,903 at the latest, quickly followed by the $1,900 threshold, acts as the final defense of the Gold buyers.
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