Online reports showed that spot gold continued to fall during the Asian session, with the decline once widening to 2%. The reason is that Trump gave up his threat to fire Federal Reserve Chairman Powell and expressed optimism about reaching a trade deal with China, which weakened gold's safe-haven appeal. Kelvin Wong, senior market analyst at Anda Asia Pacific, said: "In the short term, the above factors have led to a sell-off in gold prices, reaching a very extreme oversold level. However, judging from the resistance level above, there is no sign of any form of bullish weakness, so gold prices are still likely to rise." (Jin Shi)