28.09 - Gold’s decline resumes amid the upbeat market mood
Following a steady start to a new week in Asia, Gold (XAU/USD) is seeing a bit of selling in early Asia, as the bears look to test the two-month lows of $1849.
The spot closed last week below the August month low of $1863, triggering an alarm for the XAU bulls. The yellow metal remains at the mercy of the US dollar dynamics amid plenty of economic and political risks looming, in the face of the coronavirus resurgence. At the time of writing, gold trades at $1857, reversing a brief dip from daily lows of $1856. The US dollar bulls appear to have regained control following Friday’s pull back from two-month lows.
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