Gold Price Analysis: XAU/USD awaits fresh clues to break the monotony below $1,900

Gold prices trade mixed near the September lows, probed on Monday.

Risk catalysts remain mostly sluggish as virus woes combat vaccine hopes.

Expectations of further monetary easing, absence of a push towards negative rates and rising US treasury yields keep buyers hopeful.

Economic calendar welcomes the return of the US data, challenges to trading sentiment will be the key. Gold prices extend corrective bounce off $1,856 while taking rounds to $1,865 amid the initial Asian session on Thursday. Following a heavy drop on Monday, to September month low, the yellow metal consolidated gains to $1,890, before marking the latest move around $1,856.34. The reason for the mixed trading could be traced from a lack of clear market direction amid mixed signals concerning the coronavirus (COVID-19) and the US election results, not to forget about the global monetary policy moves. Virus, vaccine regains market attention… With […]

About the author: StockMan

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