Gold Price Analysis: Sell-Off to Continue or Corrective Move Higher?

collected by :kiven Dixter

Gold Price Analysis and Talking Points:Gold Price Downtrend intact for now amid USD LiftRecord Short Positioning Suggests Potential Corrective Move HigherSee our quarterly gold forecast to learn what will drive prices throughout the year! Alongside this, as long as gold prices stay below $1230, selling interest remains prominent. Gold Prices Set for a Corrective Move HigherAccording to the latest CFTC data, gold positioning has now switched to net short after speculators slashed over 25k bullish contracts. The last time short positioning had reached these extreme levels with gold this oversold, a countermove followed with the price surging $315/oz over a 7-month timeframe. GOLD TRADING RESOURCES:--- Written by Justin McQueen, Market AnalystTo contact Justin, email him at Justin.mcqueen@ig.comFollow Justin on Twitter @JMcQueenFX

Gold Price Analysis: Chinese Yuan and Gold Remain in Lockstep

Gold Price News and AnalysisSpot gold continues to slump as USDCNH drives the move. Gold Price Analysis – Chinese Yuan Weakness Continues to Hurt Gold BullsThe price of gold has fallen nearly $150/oz. high just over three months ago as tightening US monetary policy and a weak offshore Chinese Yuan continue to hurt bullish gold investors. The Chinese Yuan is around 9% lower since US President Donald Trump ramped up trade tariff rhetoric, negating the overall effect of Trump's tariffs on the Chinese economy. The ongoing US-China trade war will continue to be a driving force for both the Chinese Yuan and gold.

Gold Price Analysis: Support Must Hold to Prime Further Gains

As it stated in Gold Price News and AnalysisGold respecting support for now as political risk returns. Gold Price Analysis – Trying to Break the DowntrendGold is battling the three-month downtrend – started around $1,365/oz. From a technical perspective gold continues to point to lower prices but the recent rebound at the $1,238/oz. look attainable if support holds and risk-off sentiment continues to hold sway. Gold Spot Price Chart Daily Time Frame (January 2017 – July 11, 2018)Are you new to Gold or FX trading or are you looking to improve your trading skill sets?