It was a good week for gold up until Trump’s trade comments. The good news surrounding a potential trade deal drove gold back down below the 1500 handle. With added pressures from Brexit, even partial, resolution the yellow metal could remain bearish in the short- term.
XAUUSD Triangle Hints to Further Declines
The last spike to the upside allowed bulls to take profits and start selling to perhaps completing the corrective minor wave 4.
With prices under the round level and after the throwback to 1515, markets could now push the commodity near 1440. This would be where the complex correction could finally complete.