Precious Metal::: MCX Gold is trading at 38,258 levels, 0.2% below from its previous close. The precious metal is likely to remain on sidelines due to further progress in U.S.-China tariff war that may exhaust the ongoing uptrend. On hourly scale, the precious metal has formed a 'Three Falling Peaks' that signals for continuation of bearish momentum. The yellow metal is trading above 50 hours Exponential Moving Average. RSI is trading at 47.93 levels showing some signs of consolidation. Stochastic oscillator is continued with its bearish crossover.