Gold prices stay on the back-foot while taking rounds to the intraday low under $1,931, down 0.40% on a day, during the pre-European trading on Monday. In doing so, the yellow metal extends Friday’s bearish momentum amid broadly upbeat market sentiment.
The bullion bears the burden of improvement in risk-tone as well as the US dollar’s rise. Hopes of an early cure to the coronavirus (COVID-19), as teased by US President Donald Trump, favored S&P 500 Futures to mark the record high near 3,400. The US dollar index (DXY) also remains on the positive side while taking rounds to 93.25 as we write.


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