The gold market has been trending down since the start of the year. With this trend continuing we expect downward price pressure in the coming months.
The long-term gold price trend will continue as it has since late 2017. Although we had seen a few short-term corrections, they were quickly broken by another strong advance.
Gold has defied all odds in recent years. Just as the financial markets appeared to go into freefall around the world, gold found a way to rise again. After declining for much of the past year, Gold finally took its first major downward trend recently by losing 6 percent of its value in deals involving 5,000 ounces or more. The trend is likely to continue until it reaches fair value at an upward price range.
Our suggestion: Sell Gold under 1700.00 with target of 1600 Stop loss at 1735.00
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