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Gold Stays Weaker On Risk Sentiment

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The precious metal is trading weaker on Tuesday as US and China trade talks resumed. This boosted the risk-on sentiment, pushing the safe haven lower.

Price action is now trading below the 19th August lower close of 1927. This potentially opens the downside toward 1881.72 level next.

We could expect to see price rebounding off this level at least initially.

In the short term, gold prices might hold the range between 1967 and 1881.

But unless we see further gains, the bias will shift to the downside. Below 1881, the next key level of support is at the 1817 region.

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Source: https://www.orbex.com/blog/en/2020/08/gold-stays-weaker-on-risk-sentiment
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