“¢  A goodish pickup in the USD demand prompts some fresh selling.   “¢  Escalating US-China trade tensions fail to revive safe-haven demand. Gold remained under some selling pressure for the second consecutive day, albeit has managed to hold its neck just above one-week lows set in the previous session. Currently trading around the $1251 region, the commodity has lost over 1% from near two-week tops touched on Monday and seemed unaffected by reviving safe-haven demand led by escalating US-China trade tensions. The Trump administration threatened to impose additional tariffs on $200 billion worth of Chinese imports and triggered a fresh wave of global risk aversion. The risk-off mood was evident from a sharp slide in the US Treasury bond yields but did little to revive the non-yielding yellow metal’s safe-haven appeal.  Meanwhile, a goodish pickup in the US Dollar demand, which tends to dent demand for dollar-denominated commodities, was seen as the only factor exerting some fresh downward pressure through the early European session on Wednesday.  It would now be interesting to see if the commodity is able to find any buying interest at lower levels or the current pull-back marks the end of recent corrective bounce from YTD lows.  Technical levels to watch A follow-through weakness below the $1247-46 immediate support might turn the metal vulnerable to slide back towards challenging YTD lows support near the $1238 area. On the flip side, any meaningful up-move is likely to confront fresh supply near $1260 level, above which the commodity could aim towards retesting the recent swing high, near the $1265-66 region.  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 price analysis: ETH/USD is down 5% even though  Joseph Lubin promises more scalable and mature ecosystem FX Street 4 years   "¢  A goodish pickup in the USD demand prompts some fresh selling.   "¢  Escalating US-China trade tensions fail to revive safe-haven demand. Gold remained under some selling pressure for the second consecutive day, albeit has managed to hold its neck just above one-week lows set in the previous session. Currently trading around the $1251 region, the commodity has lost over 1% from near two-week tops touched on Monday and seemed unaffected by reviving safe-haven demand led by escalating US-China trade tensions. The Trump administration threatened to impose additional tariffs on $200 billion worth of Chinese imports… 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.