Gold prices are taking a breather as the US Dollar consolidates after a downward correction. The subdued tone around the Dollar is due to a slightly positive mood in the Asian session, despite mixed developments in the Chinese property market. Sunac China Holdings Ltd.'s shares surged after obtaining approval for a debt restructuring plan, while China Evergrande Group's shares fell over 10%. Hong Kong's Hang Seng index is rallying 2% today. The decline in oil prices and a pause in US Treasury bond yields are providing some comfort to investors, who are refraining from making new bets on Gold and the Dollar ahead of the US labor market data release.
🔴 SL: 1813
🟢 TP1: 1823
🟢 TP2: 1830