8/5/2021 3:10:00 AM GMT | By Anil Panchal Gold edges lower despite snapping three-day downtrend the previous day. Market sentiment dwindles ahead of the key risk events, tapering, covid woes test bulls. Gravestone Doji, failures to cross 50-DMA and steady RSI favor bears. Update: Gold price has returned to the lower bound of this week’s trading range, clinging onto the critical 21-Daily Moving Average (DMA) support at $1811 amid a broadly firmer US dollar. The greenback staged a solid comeback on Wednesday after the Fed officials turned in hawkish and brought forward expectations of monetary policy normalization. Further, intensifying concerns over the Delta covid variant spread in Asia and the US weighed on the market mood, adding to the dollar’s safe-haven allure. Looking ahead, the BOE policy decision, US weekly Jobless Claims and covid update will offer fresh trading impetus while all eyes remain on Friday’s NFP release.