• USD weakens across the board on US-China trade truce and helped regain traction.
• Bullish traders seemed rather unaffected by a fresh wave of the global risk-on trade.
• Fed rate hike expectations fail to hinder the momentum ahead of US data/Fedspeaks.
Gold regained positive traction at the start of a new trading week and climbed to near one-month tops, just above the $1230 supply zone in the last hour.
The US Dollar weakened across the board on news that the US and China agreed not to impose additional trade tariffs for at least 90 days and was seen as one of the key factors benefitting the dollar-denominated commodity.
Meanwhile, bullish traders seemed rather unaffected by the prevalent risk-on mood, evident from strong gains across global equity markets, with the USD price dynamics turning out to be an exclusive driver of the precious metal’s up-move.
KEFI Minerals plc (LON:KEFI) is focused primarily on the advanced Tulu Kapi Gold Project development project in Ethiopia, along with its pipeline of other projects within the highly prospective Arabian-Nubian Shield.