US Federal Reserve's downbeat economic projection and hopes of further economic stimulus support gold's safe haven demand. Concerns over the next wave of virus outbreak will also assist the sentiments. Meanwhile, a steady dollar ahead of key U.S economic releases and limited physical market activities are likely to cap major gains.
Technical Outlook (London spot): As long as $1665 hold the downside, we can expect a positive bias to continue in the counter. However, a direct rise above $1735 would be an early signal of major rallies.