“¢ The prevalent risk-off mood continues to underpin the commodity’s safe-haven demand. “¢ A subdued USD price-action provides an additional boost and remained supportive. Gold reversed an Asian session dip to $1311 area and has now moved within striking distance of the post-FOMC swing highs, or three-week tops. The precious metal built on last week’s goodish up-move of over 1%, also marking its third consecutive weekly gains and remained supported by reviving safe-haven demand amid growing fears of a slowing global economic growth, as indicated by the inversion of the US bond yield curve for the first time since 2007. Indications of recession sent global stocks lower on Friday and the sell-off extended through the early European session on Monday, which eventually turned out to be one of the key factors underpinning the precious metal’s safe-haven demand for the second straight session. Meanwhile, a subdued US Dollar price action provided an additional boost to the dollar-denominated commodity and remained supportive of the ongoing positive momentum back closer to three-week tops touched in reaction to a more dovish FOMC policy update. In absence of any major market moving economic releases, the broader market risk sentiment and the USD price dynamics might continue to play a key role in influencing the commodity’s momentum on the first day of a new trading week. Technical levels to watch FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Ethereum market update: ETH/USD grinds closer to a triangle breakout FX Street 4 years "¢ The prevalent risk-off mood continues to underpin the commodity's safe-haven demand. "¢ A subdued USD price-action provides an additional boost and remained supportive. Gold reversed an Asian session dip to $1311 area and has now moved within striking distance of the post-FOMC swing highs, or three-week tops. The precious metal built on last week's goodish up-move of over 1%, also marking its third consecutive weekly gains and remained supported by reviving safe-haven demand amid growing fears of a slowing global economic growth, as indicated by the inversion of the US bond yield curve for… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.