- Gold price has stretched its recovery above $1,980.00 despite bets supportive of more rate hikes from the Fed.
- The US Preliminary Manufacturing PMI figure landed above 50.0 for the first time in the past six months.
- Gold price is struggling to defend the cushion from the lower portion of a Rising Channel chart pattern.
Gold price (XAU/USD) showed a recovery move from near the crucial support of $1,970.00 and has stretched its recovery above $1,980.00 in the early Asian session. The precious metal has rebounded after a sheer sell-off despite solid preliminary United States S&P PMI data released on Friday.
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