commods are cooling down generally, and it's a seasonal game as well. + three year balance is 89 oil failed to reach 118,which is an important 3-year mid pivot not to mention previous high of 2008, now we are heading back to 89 and if that won't hold back to 60. 89 is required anyway for further upside momentum to gather, so it's just a qustion of weeks now. for now link will stay and with oil slipping lower gold will sink as well.
Yes part of the sell off is risk aversion and also is due to profit taking before summer holidays. generally the main trend on gold is intact, as many have pointed out already, so just for right now focus should be shifted to selling rallies, rather than buying dips, as fmfx proposed this week.
Yes part of the sell off is risk aversion and also is due to profit taking before summer holidays. generally the main trend on gold is intact, as many have pointed out already, so just for right now focus should be shifted to selling rallies, rather than buying dips, as fmfx proposed this week.