Gold heads back towards $ 1290 amid risk-off, focus on trade talks

• Bulls regain poise as risk-off intensifies on North Korean headlines.
• The 1300 mark back on sight amid USD strength?
• Focus remains on the crucial US-China trade talks.

The recovery in Gold (futures on Comex) from near 1280 levels gathered steam last hour, after the risk sentiment deteriorated further on fresh North Korean headlines, sending the rates to near 1287 levels.

South Korean news agency, Yonhap, reported that North Korea reportedly fired unidentified projectile eastward from northwest. The reports boosted the demand for the traditional safe-havens gold, the JPY and US dollar.

Despite the latest uptick, the yellow metal remains confined within the recent $ 15 trading range, largely underpinned by the looming US tariff hike on the Chinese goods, effective this Friday.

More so, markets now await the crucial 2-day US-China trade talks commencing later today for the next direction in the prices.

Gold Technical Levels