The precious metal was seen extending declines on Monday. This came as risk sentiment, although mixed supported equities.
The stronger dollar was also partly responsible for the decline in gold prices. Investors await the economic reports starting today which will provide insights into how the US economy fared in September.
XAU/USD Could Retreat to 1485
The precious metal broke from its sideways range within 1508 and 1485 levels. The downside breakout could see a near term retracement. A retest of the 1485 handle in gold could confirm the downside. The lower support at 1431 – 1428 will be likely tested in the short term.
