Gold, same as other protective assets, starts the trading week with an upward gap due to the reports of a new strain of coronavirus rapid spread.
Gold price slightly decreased on Friday (by 0.3%) due to the statements made by the World Health Organization regarding the new coronavirus.
Gold has declined by 0.4% on Wednesday due to recovery in Asian indices and a stronger USD.
Gold price increased by 0.4% on Tuesday amid a sharp decline in risk sentiment in the market.
Gold maintains a moderately upward-oriented movement vector, as investors doubt the potential success of the interim trade agreement between the United States and China, and fear a trade conflict in the future.
Gold prices are constrained within a fairly narrow range due to the backdrop of continuing uncertainty in trade relations between the United States and China.
During the Asian session on Thursday, the price of gold fell after the US and China signed an interim trade agreement.
Gold partially restored its previously lost position due to the weakening dollar and US Treasury yields, as well as comments made by US Treasury Secretary Stephen Mnuchin before the signing of an interim foreign trade agreement between the US and China.
Gold maintains a downward movement vector because the market is experiencing an increase in risky attitude before the signing of an interim foreign trade agreement between the United States and China.
Gold price remains in the red zone on Monday amid a prevailing risky attitude before the formal signing of an interim trade agreement between the US and China.
