Gold MCX 34940—34980 ADD More 35050 Stop Loss 35156 Sell 5 —10 Lots (Stop Loss Must)
Gold failed to capitalize on its early uptick to $1424 area and refreshed session lows in the last hour, albeit remained well within a near three-day-old trading range.
Fading optimism over a quick resolution of the prolonged US-China trade disputes provided a minor boost to the precious metal’s relative safe-haven status, albeit lacked any strong follow-through amid a modest US Dollar rebound.
The greenback gained some positive traction – probably on the back of some near-term short-covering ahead of Friday’s important release of the US monthly jobs report and exerted some pressure on the dollar-denominated commodity.