Sunday, September 2, 2018

GOLD - 03 September 2018


Fundamental Highlights

Friday's bull breakout failed, putting the yellow metal bears back into the driver's seat. Despite investors worrying about an escalation in the U.S.-China trade war after fresh threats by US President Donald Trump, a progress in talks is expected to happen between the two putting Gold under further pressure.

Technical Analysis

As expected, Gold prices are back retesting the $1200 level after the prices lost grip with a drop in the momentum. Till now, RSI continues to show us weakness so we expect a drop below the $1200 and the level we will be focusing on is the $1194 support level.

Support: 1198.6 1197.75
Resistance: 1207.8 1214.15

Chart (H1)