Gold Price Pressing Resistance, Chart Set-Up Remains Positive

From dailyfx.com

The technical set-up for gold remains positive and a re-test of last week’s multi-year high ($1,453/oz.) is expected in the short- to medium-term. A robust US dollar is currently weighing on the price of gold, despite an expected 0.25% Fed rate cut expected next week, the first of three cuts expected this year. A weaker US dollar - via lower interest rates – should see gold push higherand set new 2019 highs. Ongoing political tensions between the UK and Iran and the trade war between the US and China will also give the precious metal a bid, while any breakdown in equity valuations will push gold even higher. Gold ... (full story)