Gold fails to extend late Friday’s corrective pullback while refreshing intraday low to $1,774.70 during the early Asian session trading on Monday.
Although S&P 500 Futures begin the week on a firmer footing, gold buyers aren’t convinced for a return and they have reasons.
On the positive side, the US regulators approved the restart of Johnson & Johnson jabbing after blood clotting issues resulted in a 10-day ban of the key covid vaccine’s usage.
It’s worth mentioning that US President Joe Biden is gaining good support for its infrastructure spending plan, as per the latest NBC poll.
Looking forward, a light calendar in Asia-Pacific and ANZAC Day holiday in Australia and New Zealand will offer a dull day ahead.
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The outlook remains bearish as the bulls come up for what could be potentially their last breath before the bears take over.
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