KQMarkets

Gold - Short Below Key Resistance Level

Short
TVC:GOLD   CFDs on Gold (US$ / OZ)
We see Gold moving lower as long as it stays below the key resistance level at $1533 which was tested yesterday after a House of Representatives attempt to impeach Trump. However, the precious metal failed to consolidate above this level and has weakened as the dollar has strengthened across the board today so we will look to the upcoming US GDP and US PCE for indications of expected future FED rate decisions which should impact Gold.

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