Increased Risk Appetite & Greenback’s Rebound Put A Dent On Precious Metal Price Action
Increased Risk Appetite & Greenback’s Rebound Put A Dent On Precious Metal Price Action Gold slides down from weekly high’s but managed to retain bullish price action on weak US Greenback despite rebound. Gold Tuesday Precious metals are trading relatively subdued today on broad based prevalent US dollar. As gold neared weekly high’s yesterday on back on weak US Greenback, profit booking activity and increased risk appetite amid investor optimism on positive outcome for Sino-U.S. trade deal in broad market saw gold fall significantly. Another factor that led to gold’s decline was dollar’s rebound from 2½ month low hit in previous session. The recovery in dollar didn’t amount to much preventing yellow metal’s decline. While market saw positive price action investors turned cautious in Asian market hours with major Asian indices turning red on news of North Korean leader Kim Jon Un’s visit to China while US delegates were present especially after New Year news w