Gold is touching the low bound of the trendline! You will question about why this will work? Simple answer-bond interest rate is too high. If this has to control down, dollar has to move down, the gold need to move up. There are two cases that dollar will move down. One case is US want export, so cause dollar to go down. Second case is US market is weak and not pretending to be weak, it will lose attraction and move down. Both cases are true on dollar this time. So, gold will go up in my view!
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.