Testing Support? Next week will tell...
No Agenda. Community 1st.
It is pretty well dependent on the Trump comments and his plans to boost the GDP and therefore USD. Rising rates is almost a guarantee and therefore the rate hike is giving the USD a boost and therefore pushing gold down. A bit more of downside for Gold in my opinion, and I am long Gold forever......
@kenny1924, yes, with EUR nearly fall to parity against USD, there's no much downside room for GOLD and other commodities currency. DXY maybe push to 110 in my opinion at most.
@fdtbeijing, problem is the DXY is at New Highs, and now does it just retest the old High and then take off from there. Moving to 110 would be a super big move, and if that happens. do we take GLD to 100 or is there another higher level? I would be buying more gold if GLD dips to 100.