There is serious support at 1670 and a long way to go if this support is broken. Watch for what happens next. Bond prices and inflation data will guide the price as the gold price is being depressed by real interest rates (bond yield less inflation). If bond yield goes up then equities and gold go down. This will also cause strength in the USD which will further depress gold.
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A very weak rise and already heading back to the support line.
It has risen from 1676 to 1740. No emotions in trading if you want success. I only care for profits, now buy, later sell. As long as profits pour in, all good😀
infin0
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@stanketa the chart formation is lower highs. That is a strong signal of weakness. The only thing that can save gold now is higher inflation.
@infin0, This was pullbacks, be careful shortening as yields are untrue and any day or weak gold could sky-rocketing take off immediately, all of sudden. If you watch lot of reports, yields are mostly speculated.
stanketa
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There is a lot speculation for yields as data are false, so gold could anytime take off...