Gold trading still failed to escape the $ 1,820 price level on Tuesday, as the prospect of launching the Covid-19 vaccine and economic recovery led to declining demand for safe-haven.
The yellow metal also failed to take advantage of the weakness of the greenback dollar which continued to trade lower against most major currencies, except the safe-haven yen.
However, recent tensions between the world's two largest economic powers, the United States and China, may affect the movement of gold trading today.
Recently, the Financial Times reported that China was considering imposing restrictions on the export of rare earth minerals essential for the installation of American F-35 fighter jets and other sophisticated weapons.
This move could further increase tensions between the two countries, which had previously greatly influenced movements in the currency and commodity markets.
At the beginning of the European session, gold spots traded slightly higher, with prices hovering around $ 1,823 per ounce (3.00pm Malaysian time).
Meanwhile, market attention is now focused on the minutes of the FOMC meeting and US retail sales data to be published this week to get a catalyst for new movements.
