Investors continued to shun the safe-haven gold, returning to risky assets. The US and China trade wars remain one of the major themes pushing risk appetite higher.
Gold has been trading weaker and the recent gains failed to post any fresh highs. Moderately better than expected data from the US also kept the precious metal’s prices in check.
Will Gold Continue to Fall Further?
The current bearish momentum could see gold prices posting declines. The lower support area of 1462 remains the key support for now.
A retest of this level could, however, see prices stabilizing. But for this to happen, gold must close below the trend line convincingly. The daily chart shows the bearish formation which points to the declines for the moment.
