Will it bounce and resume its bullish trend or break down and drop like a stone?
Gold, which has been correlating more positively than negatively with the S&P 500 over the past few years, has fallen along with technology stocks in recent days.
The dollar has also bounced back, and this has provided additional pressure.
However, bond yields remain low and for that reason, I am expecting gold to remain supported in the long-term.
In the short-term as well, it has a chance to push higher as the metal tests a key technical support area, as I have discussed in THIS video:
Please don’t forget to like and share if you find the video useful as it would encourage me to produce more such content for free.
If you want to learn how I turn my analysis reports and videos into actual trade ideas, subscribe to my premium trade signals service, now with 2 weeks free trial!