Gold Price Analysis: XAU/USD look to snap three-day downtrend below $1,900

Gold bounces off $1,869.60 while consolidating three-day losses from $1,899.14.

S&P 500 Futures open with mild gains despite virus woes, risk-negative news concerning China.

Vaccine hopes gain a boost after Pfizer joins Moderna with 95% effective rate.

Risk catalysts to dominate in Asia, US data can add to the watch-list afterward. Gold prices ease to $1,871 during the pre-Tokyo open Asian trading on Thursday. Even so, the yellow metal marks a halt to the previous three days’ declines. While the bullion’s earlier losses could be traced to the coronavirus (COVID-19) woes, also ignoring the vaccine euphoria, the latest criticism of China’s position in Tibet and Hong Kong gained a little reaction from the markets. Bears catch a breather, not out of the woods… Despite the recent halt in the short-term bearish moves, gold prices aren’t immune to the global worries concerning the COVID-19 resurgence. Not […]

About the author: StockMan

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