Gold not doing much to start the new day
Price is holding at flat levels so far today as the technical story tells a similar tale to that of yesterday as highlighted here.
It's all about waiting for that next big break on the narrowing wedge as seen above.
Looking ahead, the key risk event today that could help to provide a catalyst will be US vice president Mike Pence's speech on China. As such, risk trades will be kept on edge up until that is out of the way.
In the meantime, there is also euro area PMI data to contend with. Any major surprises could help shift the risk mood a little and perhaps see gold move a bit in the coming hours.
That said, a significant break should only come about amid key headlines pertaining to US-China trade and/or the Fed in my view. So, let's see if we'll get any today.
