14 August 2019 : Gold lost some of its allure on Tuesday, depreciating almost $50 from a 6-year high at $1535 after the United States surprised markets by delaying tariffs on some Chinese goods.

While Gold is seen extending losses in the near term amid the risk-on mood, the precious metal remains shielded by various core market themes. For as long as geopolitical tensions, Brexit uncertainty, global growth concerns and central banks easing monetary policy remain key themes, Gold bulls are in control.

Technical traders will continue to monitor how prices behave above the $1485 level. A breakdown below this point may open a path back towards $1470.

Source: FXTM Senior Research Analyst, Lukman Otunuga

Reporting for EasyKobo on Wednesday , 14 August 2019 in Lagos, Nigeria