U.S. dollar index erased its mid-early losses and as U.S Stock indexes follow the same consequently Gold and silver prices have lost their early gains and now gold is trading below $1226 while silver also broke the 14.6$ mark and at the time of writing this analysis it settles around 14.49$ mark(Please keep in mind silver has a tendency to outperform gold which is bearish signal for PMs)-
Gold price trades with clear negativity to break 1227.00 and settles below it now, which supports the continuation of our bearish overview efficiently in the upcoming sessions, which its next very short-term target located at 1208.40,
1-we believe after the US mid-term election when the dust will be settled, the recent news events and relatively strong earning data will push the US stock market and economy to upside in a significant manner
2-If US-CHINA Trade war will be eased through the losing the policy by trump in the near future, we expect the equity market to surge 5-10% over a few weeks or even in few days on that news alone, hence a significant downfall in the precious metals sector.
3-we strongly believe experienced money managers and strategic professional trader should tight their seat belts and should start taking trades in gold and silver as we are expecting a sharp move as the price could move in a very aggressive manner soon-However we are very bearish for the mid and long-term in the precious metals sector.
Gold price trades with clear negativity to break 1227.00 and settles below it now, which supports the continuation of our bearish overview efficiently in the upcoming sessions, which its next very short-term target located at 1208.40,
1-we believe after the US mid-term election when the dust will be settled, the recent news events and relatively strong earning data will push the US stock market and economy to upside in a significant manner
2-If US-CHINA Trade war will be eased through the losing the policy by trump in the near future, we expect the equity market to surge 5-10% over a few weeks or even in few days on that news alone, hence a significant downfall in the precious metals sector.
3-we strongly believe experienced money managers and strategic professional trader should tight their seat belts and should start taking trades in gold and silver as we are expecting a sharp move as the price could move in a very aggressive manner soon-However we are very bearish for the mid and long-term in the precious metals sector.
