The depreciation in the Gold market is expected by market analysts as we are anticipating another rush to US dollars in the mid of strengthening US economy. If that is the case, Gold could go further down and test the lows all the way to $1,120 and, according to some, $1,000.
If, however, the US economy comes to a halt and the Greenback depreciates we could see a quick turn of events in the Gold market and a renewed interest in the safe haven.
Chart: XAU/USD D1
It will likely continue falling.
ReplyDeleteThe gold seems unstoppable.
ReplyDeleteVery impressive drop so far.
ReplyDeleteVery helpful and insightful analysis, excellent.
ReplyDeleteGood post.
ReplyDeleteExcellent infromation to keep in mind.
ReplyDeleteVery bearish indeed
ReplyDelete