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old prices dropped below the $1275


Gold remained heavily under pressure through yesterday‘s session as prices tumbled to new yearly lows below the $1275 level. A fresh wave of global risk-on trade, fueled by easing concerns over a global slowdown and optimism over a possible US-China trade deal, continued dampening the precious metal’s perceived safe-haven demand and kept exerting downward pressure for the fourth consecutive session. This coupled with a goodish pickup in the US Treasury bond yields further collaborated towards driving flows away from the non-yielding yellow metal.

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Source: https://www.squareddirect.com/blog/technical-analysis/gold-technical-analysis-17-04-2019/
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