Gold Moves Higher

Gold is having a bullish day today going from $1,227 to $1,241 just minutes before the opening of the US session. As stocks open flat, the precious metal has the chance to rally to first bull target at $1,250. If market participants favor the move in Gold, we might even see an attempt to visit the upper trend line on the short-term at $1,270. 

On the other hand, bears are expecting another high before they get the chance to sell at a higher point. First bear target is seen at $1,225, while major bear target rests at $1,192.

A lot of market experts and analysts are recommending to go away from the Gold market and invest in the US dollar and equities with the hopes of a continuation of the Trump wave. However, as we can see, the US dollar is currently going down, while Gold rallies.

Chart: XAU/USD H4