Gold is not doing much at the moment, however on a fundamental basis it should atleast come down a bit.
~ Gold is similar to a currency with 0% yield, treasury yield will probably bounce back a bit higher, so that should be negative for gold.
~ Gold is a commodity which stores it's production costs, namely energy. Lower energy prices, mean cheaper gold production, so that should be negative as well.
Perfect entry for me will be yesterdays high, early monday rejection wick and 61.8 retracement, which all collide @ 1680$
~ Gold is similar to a currency with 0% yield, treasury yield will probably bounce back a bit higher, so that should be negative for gold.
~ Gold is a commodity which stores it's production costs, namely energy. Lower energy prices, mean cheaper gold production, so that should be negative as well.
Perfect entry for me will be yesterdays high, early monday rejection wick and 61.8 retracement, which all collide @ 1680$