“¢  Struggles to build on this week’s recovery move despite trade-war fears/softer USD.    “¢  Fading safe-haven demand/uptick in the US bond yields exerts fresh selling pressure.   “¢  US economic data eyed for some impetus ahead of the latest FOMC meeting minutes. Gold came under some renewed selling pressure on Thursday and has now erased all of its previous session’s gains to over one-week tops. The precious metal stalled two days of goodish recovery move from YTD lows and failed to benefit from the ongoing trade war fears. Even a subdued US Dollar demand, which tends to underpin dollar-denominated commodities, did little to provide any fresh bullish impetus. The prevalent risk-on mood, as depicted by strong gains across European bourses and indications of a positive opening in the US equity markets, was seen as one of the key factors weighing on traditional safe-haven assets and dragging the precious metal lower. Adding to this, a modest uptick in the US Treasury bond yields was also seen driving flows away from the non-yielding yellow metal and collaborating to the downfall.  Investors now look forward to the US economic docket, featuring the release of ADP report on private sector employment and ISM non-manufacturing PMI. This along with the latest FOMC meeting minutes and Friday’s official monthly jobs report (NFP) will help determine the commodity’s next leg of directional move.  Technical levels to watch A follow-through retracement below $1250 level is likely to accelerate the fall towards $1246 horizontal support before the metal eventually heads back towards retesting YTD lows support near the $1238 region. On the flip side, $1260-61 area now seems to act as n immediate hurdle, above which the recovery move could further get extended back towards $1272 supply zone en-route $1276-77 strong hurdle.  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 Markets: Normalisation amid trade and growth uncertainty – ANZ FX Street 4 years   "¢  Struggles to build on this week's recovery move despite trade-war fears/softer USD.    "¢  Fading safe-haven demand/uptick in the US bond yields exerts fresh selling pressure.   "¢  US economic data eyed for some impetus ahead of the latest FOMC meeting minutes. Gold came under some renewed selling pressure on Thursday and has now erased all of its previous session's gains to over one-week tops. The precious metal stalled two days of goodish recovery move from YTD lows and failed to benefit from the ongoing trade war fears. Even a subdued US Dollar demand,… Top 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.