- Gold price regains positive traction on Monday, though the uptick lacks bullish conviction.
- Looming recession fears turn out to be a key factor benefitting the safe-haven commodity.
- A modest US Dollar strength holds back bulls from placing fresh bets and caps the upside.
Gold price attracts fresh buying near the $1,995 area on the first day of a new week and maintains its bid tone through the first half of the European session. The XAU/USD is currently placed around the $2,010-$2,011 region, up over 0.40% for the day, and for now, seems to have stalled Friday’s retracement slide from the vicinity of over a one-year peak.
Support authors and subscribe to content
This is premium stuff. Subscribe to read the entire article.
Login if you have purchased