Gold Bulls Look Too Aggressive After Chinese Retaliatory Move
Satendra Singh | May 14, 2019 03:53AM ET
On analysis of the movements of Gold futures in different time frames, I find that Gold futures look ready to make a second bouncing move shortly with a growing fear of global economic slowdown due to lingering tariff trade war tussle between the two major economies of the world. Most of the global equity markets have felt a sudden jolt after a double dent on escalation efforts to resolve the tariff trade war. Many equity markets around the world have come under strong bearish pressure. This scenario looks evident enough to keep the bullish trend in Gold futures intact. No doubt that Gold bulls may make more steep upward moves till weekly closing amid growing volatility.
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