We cannot say that global risk-aversion is over. Fall of the equity markets was one of the hottest headline amid trade war talks. And markets are still closely watching the U.S-China trade-related news and gold prices edge lower recent days despite rising tension. It seems, the price remains sensitive to the US-China trade war topic but, potential next rising has not come.
This time, escalation of global demand for the Dollar was the restraint factor for gold price.
Precious metal fell two days, after price has test $1300 key resistance. $1277 and $1266 would be crucial respectively, if the drop keep on. If the markets do not continue to shrugging off the trade risk, this region may work as support. Stop loss is reasonable below $1266 for long positions.