8 Oct 2019: Gold is struggling to push back above the psychological $1500 level on Tuesday thanks to a stabilizing Dollar and cautious optimism over US-China trade talks. While the precious metal may depreciate in the near term, the downside losses will be limited by core market theme draining risk sentiment.

Where the metal concludes this week will be heavily influenced by high-level trade talks between the United States and China. A market friendly outcome that paves the way to further negotiations could send Gold prices sinking towards the $1485 level. Alternatively, if the negotiations disappoint markets and fuel risk aversion, Gold bulls should be injected with enough confidence to challenge $1515 and $1525.

Source: FXTM Senior Research Analyst, Lukman Otunuga 

Reporting for EasyKobo on Tuesday , 8 October 2019 in Lagos, Nigeria