The precious metal was trading weaker on Monday. Investors are waiting for further clues on the developments of the trade deal. The China GDP report and the US inflation and retail sales report will be the big-ticket items that will move markets over the week.
XAU/USD Downside is Increasing
The current price action is consolidating near the current levels amid the lower high forming. Price action is trading slightly above the minor support of the 1546 level. A breakdown below this level will accelerate the decline to the 1534 level of support.
