Gold Sell Off

Gold is having a terrible last quarter of 2016. The precious metal had the best first three months beating all other markets and assets when it rose more than 30%, and close to 40% in the third quarter. Now, the situation does not look so optimistic as Gold has been going the other way since July.

Numerically speaking, Gold rose from $1,047 to $1,284 in first quarter, then stalled for a couple of months and skyrocketed on June 24 when the NFP's and Jobs report returned 50,000 jobs created. This was the decisive factor that pushed price to year high of $1,375.

Since then, bulls have not been able to ignite a spark and Gold has been suffering the consequences. The price is down to $1,181 and is currently trading at $1,186. The main factor now is Trump's Presidency and his plans for growth, economic prosperity, new jobs and rising wages.

All of that is, of course, yet to be revealed and if something is not according to plan, the US economy will react and Gold's price will be affected.

So, to all the Gold bugs out there - worry not for the best days of Gold are yet to come.

Chart: XAU/USD D1