the price is in a tricky place.
we still have an upward trend that has made the pullback to the lower edge of the channel
globally, we have tensions in the Gulf, a global crisis that is seen as a reduction in interest rates as evidence. and we have a trade war between the USA and CHINA whose negotiations are ok today and tomorrow but they are not.
and we have a likely US interest rate cut on Wednesday, which could weaken the dollar and push the price of gold even higher, as this is proof that the global economy is in crisis.
be smart and don't rush in to gold trade.
we still have an upward trend that has made the pullback to the lower edge of the channel
globally, we have tensions in the Gulf, a global crisis that is seen as a reduction in interest rates as evidence. and we have a trade war between the USA and CHINA whose negotiations are ok today and tomorrow but they are not.
and we have a likely US interest rate cut on Wednesday, which could weaken the dollar and push the price of gold even higher, as this is proof that the global economy is in crisis.
be smart and don't rush in to gold trade.