Gold Still Remains Stuck
Gold has had a great year, especially in summer, surging by around $280. The weakening global economy and the escalating trade war hurt the risk sentiment in financial markets, benefiting safe havens such as the JPY and Gold. But in the last two months Gold has lost its mojo a bit.
It has made lower highs, forming a triangle with the support at $1,482. That triangle was broken earlier this month as hopes for a partial trade deal between US and China increased, improving the sentiment. But Gold turned higher again and entered the triangle again.
Support Resistance
1480.87 1495.53
1471.63 1500.95
1456.97 1515.61
Key Trading Level: 1486.29


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