Demand for Gold is sinking as markets recover sentiment for Thursday. Markets are ultimately anticipating a wind-down of the current trade tensions between the US and China. Gold is sinking into fresh lows in the Asia session, hitting a six-month bottom at 1,264.00. Market expectations that the US will reverse its current trade policy against China and avert a trade war are hampering broader demand for the precious metal. President Trump’s penchant for changing his mind and holding a frivolous line on what he intends to do is drawing down bids on Gold, as traders ultimately expect the current trade tensions between the US and China to amount to nothing. Further hampering Gold prices was the US Fed’s Jerome Powell, who reiterated the Fed’s bullish stance on inflation looking forward on Wednesday, driving Gold lower once again. The broader market’s sentiment recovery through the Asian session is continuing to send the safe-haven precious metal down into fresh lows as Gold tests into December of 2017’s action. Gold levels to watch As noted by the FXStreet team earlier, “Spot is currently trading at levels last seen December 22nd, and is poised to extend its decline given that in the daily chart, the 20 DMA gains further downward traction far above the current level and below the 100 and 200 DMA, while technical indicators accelerated their declines, with the Momentum within negative levels, and the RSI entering oversold territory. The 1,261.00 price zone is now the immediate support as the metal has several intraday highs and lows around it from late November, early December, with a break below it favoring a test of a strong static support area t 1,245.20. 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 Norges Bank to remain on hold today – TDS FX Street 5 years Demand for Gold is sinking as markets recover sentiment for Thursday. Markets are ultimately anticipating a wind-down of the current trade tensions between the US and China. Gold is sinking into fresh lows in the Asia session, hitting a six-month bottom at 1,264.00. Market expectations that the US will reverse its current trade policy against China and avert a trade war are hampering broader demand for the precious metal. President Trump's penchant for changing his mind and holding a frivolous line on what he intends to do is drawing down bids on Gold, as traders ultimately expect the current trade… 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.