Gold Prices Gained As U.S. And European Bond Yields Continued To Slide

Gold trading range for the day is 38676-39534.

Gold prices gained as U.S. and European bond yields continued to slide, underlining fears of recession

There are expectations for monetary policy easing in the eurozone, inversion in U.S. Treasury yield curve increased hopes for further rates cuts by the U.S. central bank.

U.S. President Trump predicted a trade deal with China but optimism wilted after China's foreign ministry spokesperson dismissed claims of phone calls between the two sides.

Federal funds futures implied traders saw a 91% chance of a 25 basis-point rate cut by the U.S. central bank next month.

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