The precious metal, which attempted to rise to fresh highs earlier this week pulled back. Gold prices were trading weaker, and off the $1500 psychological level. Besides the trade war narrative, US inflation data showed a 0.3% increase in both the headline and the core CPI.
Will Gold Extend Declines?
The precious metal could extend the declines if it fails to hold the 1494 handle. With minor support established here and price already breaking past this level, gold could start to post a correction to the downside. The lower support at 1447.20 will be the likely target in case the correction gains momentum.
