Gold price (XAU/USD) trims intraday losses around $1,995 amid the Easter Monday holiday in major bourses. In doing so, the bullion bounces off the 200-bar Exponential Moving Average (EMA) but remains mildly offered on a day, which in turn teases sellers after the bullion marked the first weekly gains in three at the last.
That said, the China-linked risk-off mood joins the US Dollar’s rebound to exert downside pressure on the Gold price. However, the market’s latest inaction limits the XAU/USD moves of late. Recently, South Korea joined the US in defending Taiwan as Beijing marks a heavy show of military drills. Even so, the terms of tension are still inexplicable as the US signals the latest moves of sending arms help to Taipei as precautionary and resists taking major steps.
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