“¢ A goodish pickup in the USD demand prompts some fresh selling. “¢ Trade war concerns/risk-off mood help limit further downside. Gold edged lower at the start of a new trading week, albeit has managed to recover early lost ground and is currently holding in the neutral territory around the $1270 region. A goodish pickup in the US Dollar demand was seen as one of the key factors exerting some fresh downward pressure on dollar-denominated commodities – like gold. After an initial uptick, the metal came under some renewed selling pressure and touched an intraday low near the $1265 region. However, global trade war tensions, leading to a fresh wave of global risk-off trade, as depicted by weaker sentiment around equity markets, underpinned the precious metal’s safe-haven appeal and helped limit further downside. In the latest trade-related developments, the US President Donald Trump threatened to escalate a trade war by imposing a 20% tariff on European car imports. Trump also planned to bar many Chinese companies from investing in US technology firms and block additional technology exports to Beijing, Wall Street Journal reported on Sunday. The risk-off mood was evident from the ongoing slide in the US Treasury bond yields, which remained supportive of a modest uptick witnessed around the non-yielding yellow metal. The broader market risk sentiment and the USD price dynamics might continue to act as key determinants of the commodity’s movement in absence of any major market moving economic releases from the US. Technical levels to watch Any meaningful up-move is likely to confront resistance near the $1276-77 region and is followed by the $1282-84 supply zone, above which the recovery could get extended towards $1290 hurdle. On the flip side, $1265 area now seems to protect the immediate downside, which if broken is likely to accelerate the fall even below the $1260 level towards its next support near the $1252-50 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 recovers from a 10-week low, but still dancing at the edge of a cliff FX Street 5 years "¢ A goodish pickup in the USD demand prompts some fresh selling. "¢ Trade war concerns/risk-off mood help limit further downside. Gold edged lower at the start of a new trading week, albeit has managed to recover early lost ground and is currently holding in the neutral territory around the $1270 region. A goodish pickup in the US Dollar demand was seen as one of the key factors exerting some fresh downward pressure on dollar-denominated commodities - like gold. After an initial uptick, the metal came under some renewed selling pressure and touched an intraday low… 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.