My feeling is that one more small downside move and we will start to see some positive indication for GOLD to rally or at least enter into the final stages of consolidation and it could stretch this out a bit before climbing. It would be great to see the 100 offer some support and for it to remain above the 100. The range of 1200 to 1300 has held for a long time now and this corrective wave cycle is necessary before the next leg higher. I think patience is the key here. USDJPY still has some range bound action that will break down over the next few months and that will be the final blow and will aid in propelling gold higher.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.