Gold is tied up for $1200.

Spot gold continued to consolidate near the $1200 level, and as speculative short positions gradually withdrew, the bullish strength of gold seemed to be gradually reaching a "balance". On Monday (September 3rd), the rest of the holiday season in the US and Canada also made gold trading lighter. But such tranquility represents the surging waves that are brewing. As trade tensions are brewing and fermented, where should gold go?
US dollar moves calm, gold price volatility suppressed
On Monday, the overall trading of gold was relatively light, with the US dollar index narrowing in the vicinity of 95 integer. Gold bulls and bears fell into a brief state of "peace" as the United States and Canada closed for Labor Day. Gold prices fluctuated around 1200 US dollars, and the amplitude also narrowed.
Earlier this week, financial markets appeared to be calmer, the heavy data in financial markets were light, and the U.S. closure also made the volatility of the gold button weaker. Usually, the lower the volatility of gold price and the longer the duration, the more intense the gold price will usher in.