The precious metal is trading steady on Monday. There were no major news reports that could impact the markets much.
Data from the US remains conflicting. The Empire State manufacturing index came out a tad lower. But, on the other hand, IHS Markit’s flash PMI’s were a bit better than expected.
XAU/USD Maintains Sideways Range
The precious metal is busy trading within the range of 1483 and 1462. In the process, price has attempted to break past the 1483 level twice. Failure to breakout higher above this resistance could signal further gains in the near term. This comes with the ascending triangle pattern currently forming.
