In the short-term the gold price has been under pressure since the markets are going well and more money is being allocated into equities.
Medium/Long term you need to remember the reason markets are doing well is due to the money printing which is in full throttle. This will drive gold higher this year.
The gold price seems well supported at current price. The downward pressure can't be sustained and it's going to revert to the long term uptrend.
AMX Price at posting:
37.0¢ Sentiment: LT Buy Disclosure: Held
