XAUUSD: Gold price has many potential risks!
Gold prices struggled to break the losing streak, walking near $1,890 per troy ounce in the Asian session on Monday. The precious metal also benefited from the US dollar's retreat, driven by the Federal Reserve's interest rate cut and risk aversion. However, Gold faced downward pressure on Friday due to optimistic US economic data, leading to cautious market sentiment as traders remain wary of increasing inflation prospects. The yellow metal may face a challenge due to China's economic uncertainties. These factors have the potential to impact the overall trajectory of Gold prices.
Stoploss: 1879
Take Profit: 1890
Take Profit: 1895