Gold still expects a decline around 1350 With the following reasons ....
1. The US public debt ceiling until December must be calculated.
2. Central banks have begun showing signs of raising interest rates or tightening monetary policy.
3. Fine news is not that bad. (Bad news like unemployment benefits yesterday may be influenced by hurricanes.)
4. Gold also has a cycle up from 1204 and no one to deep adjustment. Currently overbought.
5. The technical factors are also bearish as the wedge rises - Rising wedge is the technical bearish pattern, and divergence occurs on the momentum indicators.
In short: is an expected correction of the price of gold around 1350
1. The US public debt ceiling until December must be calculated.
2. Central banks have begun showing signs of raising interest rates or tightening monetary policy.
3. Fine news is not that bad. (Bad news like unemployment benefits yesterday may be influenced by hurricanes.)
4. Gold also has a cycle up from 1204 and no one to deep adjustment. Currently overbought.
5. The technical factors are also bearish as the wedge rises - Rising wedge is the technical bearish pattern, and divergence occurs on the momentum indicators.
In short: is an expected correction of the price of gold around 1350