Increased appetite for riskier assets constrains gold

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A breakdown in trade talks is the only scenario likely to breathe new life into gold prices at this time, one analyst says

Bengaluru — Gold fell on Monday as growing optimism about a US-China trade deal following a report of “constructive talks” at the weekend boosted sentiment for riskier assets.

“The trend for gold in the short-term is looking quite negative. From technicals, we have taken out all lows — $1,480 was the most important one, now $1,460.” “In all likelihood, a breakdown in trade talks remains the only scenario to breathe new life into gold prices at this time,” Jeffrey Halley, senior market analyst, Asia Pacific at Oanda, said in a note.


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