Gold Prices Lower 4th Day In A Row

Gold Futures---Gold futures in the August contract is trading lower for the 4th consecutive trading session down another $2 at 1,225 an ounce continuing with its bearish momentum as I've talked about this market for quite some time as I still remain bearish as I think there's a lot of room to run to the downside as 1,200 is in the cards possibly this week.

The entire precious metal sector continues to melt away on a daily basis as I sound like a broken record as I see no reason the own gold or any of the precious metals at this time as the U.S dollar is up another 35 points continuing its bullish momentum as fundamentally & technically speaking the gold market has nothing bullish at this time.

Gold prices are trading far under their 20 and 100 day moving average telling you that the short-term trend is to the downside and if 1,200 is broken we could test last year's low around 1,125 as I still think prices look expensive.

The NASDAQ 100 and Russell 2000 hit another all-time yesterday as that's where all the money flows are flowing as all of the interest lies in the equity market & not in gold as I think this trend will continue throughout 2018 coupled with the fact that the commodity markets remain extremely weak at the present time as the uncertainty about the Trump tariffs have certainly put the kibosh on prices in the short term and if you are short stay short.

TREND: ---LOWER

CHART STRUCTURE: POOR

VOLATILITY---LOW

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