Commodity Review Spot Gold

XAUUSD – Spot Gold

Gold has rallied off the lows around 1160 but may still see some selling pressure come into the market. The run up has been thanks to a weakening USD so the risk to price will be any sudden rally in the dollar. Currently talk is that US interest rates may be adequate meaning less rates rises into next year so the USD has adjusted lower as longs are unwound. All this may be due to tariffs and companies growth under pressure. If the US and China get there act together and negotiate a deal, then we may see a bounce in the USD and drop in gold. We are watching now for weakness and sellers to come into the action to build the lower high for a potential move down to 1125.

Index Code : XAUUSD – Spot Gold

Current Price : 1221.63

XAUUSD