GOLD 18/5/2020

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The market pushed above the year-to-date high . The recent run of weak data is not surprising, but when the official numbers are released the low or negative data provides a stark reminder of how bad things are and punches golds higher. The negative data highlights a contracting global economy, a contracting economy kills investment opportunities, gold's status improves and money on the sidelines finds its way into bullion.

Surging oil prices are also helping with the inflationary side of the gold trade and pressuring real interest rates lower.

Gold Long term View is Uptrend. Based on the momentum, We expect to see higher highs back in 2011.
However Shorting opportunities lies ahead when uptrend resistance meets supply zone. Indicators will show potential reversal at that point.