On Wednesday April 5, the US ADP Employment was released at 263K, a very good number, which is a negative gold signal. The US Dollar Index went up quickly, and gold dropped quickly from 1254 to 1244 after the US ADP report.
At 18:00 GMT, the Fed FOMC Minutes announced that the Fed would reduced its balance sheet of $4.5 trillion this year which made a strong stock market sold-off and gold made a reversal from 1243 to 1258.
Today April 6, gold is expected to trade from 1251 to 1261 to wait for Trump-Xi Jingping meeting. The outcome of this meeting will start a new gold trend, this means gold will move to 1290-1300 if the up trend is intact and gold will drop to 1220-1230 if there is no major economic conflict.
Today best strategy is to wait for range break-out to buy or sell gold following a new trend which is developed after Trump-Xi Jingping meeting