Gold price (XAU/USD) trades in negative territory for the second consecutive day during the early Asian session on Tuesday. Market participants shrug
Gold price loses momentum around $1,915as market sentiment rebounds. The rising geopolitical tensions in the Middle East could lift the safe-haven demand like Gold. US Retail Sales and Chinese growth numbers for Q3 will be closely watched events. off the conflict in the Middle East and look for a fresh impetus. The precious gold currently trades near $1,915, down 0.28% on the day.
The Chinese Gross Domestic Product for the third quarter, Industrial Production, and Retail Sales will be released on Wednesday. The weaker-than-expected could drag gold price lower as China is the world's largest gold producer and consumer. On the other hand, the escalating geopolitical tensions between Israel and Hamas could boost the demand for a traditional safe-haven asset like Gold. Early Tuesday, the US Marine Rapid Response force is headed to the waters off the coast of Israel.
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