The trust between South Korea and North Korea jumped after feel-good summit at which their leaders declared an end to hostilities and to work toward denuclearization of the peninsula.
The Gold market was used as a safe haven in the past month and now as tensions ease off, traders and investors seem to feel confident to own national currencies instead of locking their capital in Gold.
If the sell of continues, first bear target and bullish attempt to bounce off would be the level of $1,305 - $1,300.
Chart: XAU/USD H4
It will likely reach $1,305.
ReplyDeleteI agree with your assessment.
ReplyDeleteIt's likely to test the lower edge of 2018 range.
ReplyDeleteSeems like it has room for further decline.
ReplyDeleteA good post with good insights into the situation.
ReplyDeleteVery interesting! Thanks!
ReplyDeleteGreat analysis as usual.
ReplyDeleteThanks for the post.
ReplyDelete