Gold cliffs to gains amid fresh US dollar selling on Monday afternoon. Gold price is near intraday high, bounces off 13-day low, currently trading near the daily high, near $1664. However, any subsequent move up might still be seen as a selling opportunity. A sustained strength beyond the $1680 supply zone is needed to negate the near-term bearish bias. We expect Gold to move to $1670 - $1675 today during the US trading session. The US bond yields and the risk sentiment will influence the USD price dynamics and will have the impact on gold next move.
Trade closed: stop reached