With the trade tensions between the US and China growing we have seen the price of Gold
range as the correlation between CNYUSD
still remains close. In the last 24 hours of trading we have seen a slight shift in sentiment across the markets including a 4% drop
in the NASDAQ yet Gold
remained fairly quiet. However now we are approaching the key level of 1215.00 which the market has struggled to get above during the trade tension crisis. There is an opportunity however if the market can break and close above the key resistance we could look for short term longs in line with the market conditions.