Gold gave back the gains achieved earlier this week with Comex futures losing $10.80 (0.84%) on the day with the most active June contract closing at $1286.90.

You might not think that a fractional gain would indicate bullish market sentiment, however in the case of today’s $0.60 gain per ounce of gold it is the fact that gold has held steady relative to the respectable gain that occurred on Monday of this week.

Last week’s trade negotiations between the delegation from China and the U.S. delegation seemed to have lost ground and moved farther away from a resolution, the opposite of the desired outcome.