With USD strength with a strong bearish trend currently intact, we have saw gold tried twice to break major resistance but it couldn't so I think a temporary retest of 1622 allowed bulls to push prices up and break Major resistance at 1685 before running into resistance at 1720 - 1730 then they will dump it to 1560-1580
Also don't forget Gold competes against the bond markets as a safe haven... a potential rate hike of 75 to 100 basis points by the might make the bond market a little more attractive to safe-haven buyers than the gold market would normally be
Also don't forget Gold competes against the bond markets as a safe haven... a potential rate hike of 75 to 100 basis points by the might make the bond market a little more attractive to safe-haven buyers than the gold market would normally be
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Lets dump it !!