Gold price rally is running out of steam
The spot gold price’s steep 5% rally over the past few days seems to be temporarily running out of steam below its April record high at $3,500.00 per troy ounce amid planned US-China trade talks and improved market sentiment.
The 24-to-29 April highs at $3,370.00-to-$3,345.00 may offer short-term support on Wednesday. If not, a slide towards the 23-to-28 April lows at $3,353.00-to-$3,260.00 may ensue.
Spot gold daily chart