Gold hangs on to $1900 amid uncertain Trump's health condition – OCBC

Gold (XAU/USD) has retreated from the highs above $1,900 and trades just below that round number. All in all, the yellow metal is likely to stay supported until more clarity on Trump’s health condition emerges, per OCBC Bank.

Key quotes

“The rising uncertainty across the global economy lifted gold prices back to the $1900/oz level. We initially thought that since gold broke below that critical support level of $1900/oz, the precious metal would make a quick break for the $1800/oz level. The price movements last week, however, show that there remains buying interest at the $1800-$1900/oz level.”

“We remain bullish in the long-term.”