Gold Price Analysis: XAU/USD buyers eye $1,900 amid risk-off mood

Gold pares early-week losses despite latest pullback from $1,883.93.

Covid recalls activity restrictions in US states, Fed Chair Powell warns about vaccine hopes.

Trade, political tensions also join the line to weigh the risks.

Aussie PM’s likely hint for vaccine, reopening can entertain Asian traders amid a light calendar. Gold extends the previous day’s corrective recovery while picking up the bids near $1,877 during the early Friday’s Asian session. In doing so, the yellow metal consolidates the biggest losses in three months, marked on Monday, amid fresh risks emanating from the coronavirus (COVID-19), trade and political frontiers. Vaccine hopes aren’t enough to restore economics… Although Pfizer, Moderna and Chinese pharmaceuticals are trying their best to find the cure to the deadly virus, Federal Reserve Chairman Jerome Powell’s hint to not be too optimistic about the cure’s economic impact cooled down the earlier positive market sentiment […]

About the author: StockMan
Tell us something about yourself.
Posting Guidelines
Do
  • Do contribute something to the discussion
  • Do post factual information, analysis and your view on company valuations
  • Do disclose if you have an interest in a security
  • Do take our Terms of Use seriously
Do Not
  • Do not make low-content posts, unsubstantiated ramps or untruthful/misleading statements
  • Do not complain about a post unless you have reported it first, and not on the forum.
  • Do not post financial advice
  • Do not advertise or post sponsored content

Get involved!

Get Connected!

Come and join our community. Expand your network and get to know new people!

Comments

No comments yet