Gold Price News and Forecast: Gold funneling down to short-term triangle break
|Gold traders concentrate more on geopolitical risks than trade headlines
Gold prices begin the week on a positive side while taking the bids to $1,478.60 amid the initial Asian session on Monday. In doing so, traders seem to pay a little heed to US President Donald Trump’s trade positive comments while paying more attention to geopolitical concerns surrounding the US, China, North Korea and the Middle East.
The US President Donald Trump’s optimism surrounding the US-China phase-one failed to please traders as China’s President Xi Jinping responded with a cold heart while disliking the US interference in the internal matters.
Gold Technical Analysis: Funnelling down to short-term triangle break
Gold prices take the bids to $1,479.75 by the press time of early Monday. The bullion is heading towards the break of short-term symmetrical triangle amid a bullish signal from 12-bar Moving Average Convergence and Divergence (MACD).
However, a sustained break of $1,480.60 is what buyers will look for ahead of targeting the monthly top near $1,487.
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