Whilst trade talks have weighed on risk assets, it’s been beneficial gold which broke to a 1-month high. And seeing as the breakout wasn’t restricted to the greenback, we think the low is finally in. Just over a month ago we thought the base was in around $1280, yet the correction opted for another cycle low before finding support around $1266. Ultimately it was the August 2018 trendline which provided gold’s springboard, which has now seen a clear break of a retracement line with bullish range expansion. With the MACD pointing higher and just crossing the zero line, it suggests momentum is realigning itself with the ... (full story)