- Gold bounces alongside improvement in US President Trump’s health.
- Developments around Trump’s health to be the key decider.
- Gold stays below 21-DMA ahead of the US Markit, ISM Services PMIs.
Heading into a new week, the risk sentiment witnessed a major turnaround alongside the apparent improvement in US President Donald Trump’s health condition. The US dollar gave back a minor part of its last Friday’s surge amid the upbeat market mood, as Gold (XAU/USD) showed some signs of life around the $1900 mark. The ongoing optimism over the additional US fiscal stimulus also offered some support to the yieldless gold. The yellow metal gained over 2% last week, settling Friday below the $1900 level. Friday’s slide was courtesy of the resurgent haven demand for the greenback after Trump and his wife were diagnosed with COVID-19.
Looking ahead, the price action in gold will likely depend on the fresh updates concerning