Recent fall in gold has mostly be driven by a weakening CHN/EUR and strengthening USD. I don't think further Fed rate rises are sustainable if the US wants to remain competitive given the Trade War. The devaluation of CHN/EUR has been strategic to maintain exports as a result of US Tariffs. The flattening of US Yield Curve is also an early indication of a bearish long-term view. Trump has essentially backed the us into a corner - I do not see much long term growth potential for the US if this Trade War continues.
We should see gold recover but I guess only time will tell.
Cheers GLTAH and DYOR
EGA Price at posting:
22.5¢ Sentiment: Buy Disclosure: Held
