Gold prices maintained the weak trend with price action largely subdued. The muted price action comes amid a rise in global equities.
Traders are still trading off the positive developments in the US-China trade talks. But, given the fluidity of the situation, anything can happen. A lack of economic data on Tuesday was also partly responsible for flat trading.
XAU/USD Testing the Lower Trend line
The precious metal was testing the lower trend line on Tuesday. But, price action is weak while testing the rising trend line. A strong downside breakout in gold could signal a move lower.
The support at 1445 remains the likely downside target. Gold prices have been trending somewhat lower after testing the highs of 1550 recently.
