Despite the continuous progress in the global economic performance, the market trading sentiment failed to stop its declining streak of the previous day. It remained depressed on the day, as another round of arrests in Hong Kong, and China’s military show in Taiwan keep exerting downside pressure on the market trading sentiment. Apart from this, the US and UK-backed move to push China away also played a major role in undermining the market sentiment. In addition to this, the sluggish trading mood could also be associated with the latest reports by Fed Chairman Jerome Powell, suggesting that the inflation run-up could be more consistent than previously expected, which, in turn, left a negative impact on the market mood. Thus, the prevailing risk-off mood put a safe-haven bid under the safe-haven assets, helping to limit the losses in the gold prices during the previous session.