• Gold Price stays pressured for the fourth consecutive day despite lacking downside momentum.
• Upbeat headlines from China, Country Garden fails to impress XAU/USD buyers as US Dollar traces firmer yields.
• US Factory Orders, ISM Services PMI and risk catalysts eyed for clear Gold Price directions.
• XAU/USD bears have a tough time keeping control unless breaking $1,930 and $1,915 key support confluences.

Gold Price (XAU/USD) remains on the back foot for the fourth consecutive day even as the bears struggle to gain market acceptance ahead of the top-tier US data. In doing so, the yellow metal portrays the trader’s cautious optimism as full markets return after a long weekend in the US.

That said, the doubts about China’s capacity to defend the economic recovery join firmer US Treasury bond yields, which in turn underpins the US Dollar’s rebound amid a sluggish session.

It should be noted that Friday’s upbeat US Nonfarm Payrolls (NFP), global rating agency Moody’s upbeat revision to the US growth forecasts and hawkish comments from Federal Reserve Bank of Cleveland President Loretta J. Mester seem to keep the US Dollar firmer, as well as exert downside pressure on the Gold Price.

Alternatively, the risk-positive news from China’s biggest reality player Country Garden and Beijing’s efforts to defend economic recovery via multiple qualitative and quantitative measures should have prod the Gold sellers but failed to do so amid the recently firmer Greenback.

Moving on, the full markets’ reaction to the latest shift in sentiment and today’s US Factory Orders for July, as well as the Fed concerns, will be important to watch for clear directions