Gold drops back to $1,823, reversing the Asian session gains ahead of cheering Tuesday’s full markets.
US Dollar Index tapering, underpin risk-on mood.
It should be noted that Australia, New Zealand and Japan mark the reduction in the COVID-19 numbers and tease plans of how they could overcome the pandemic, especially in Canberra.
Even so, firmer US Treasury yields hint at the cautious mood ahead of the key event of the week, namely the ECB monetary policy meeting, which in turn weighs on the gold prices.
However, major attention will be given to the central bank chatters amid concerns that the pandemic-led lockdowns have pushed back previous tapering plans.
Firmer Momentum line and upbeat RSI favor gold buyers above a monthly support line, near $1,818.
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EUR/USD stays directed towards 1.1900 amid fresh US dollar weakness, as the risk-on trading dominates.
Gold kicked off the new week on a softer note and eroded a part of Friday’s strong gains to the highest level since mid-July.
Cryptocurrency investment products witnessed an inflow of $98 million last week, marking the third consecutive week, indicating that investor sentiment has continued to be positive.
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