Gold Technical Analysis – Renewed tariffs fears boost the precious metal

From forexlive.com

Gold got a bit of a boost yesterday on renewed tariffs fears as Trump announced 25% tariffs on imported autos. The threat of higher inflation in the short term coupled with lower growth is keeping the precious metal supported. In the bigger picture, as long as the Fed doesn’t change its reaction function and doesn’t mention rate hikes, the trend should remain to the upside as real yields will continue to fall unless we get another strong growth scare. On the daily chart, we can see that gold is consolidating just above the 3000 level. From a risk management perspective, the buyers will have a better risk to ... (full story)