Prices lead the news.
Is Gold market trying to price in Trump victory?
Gold made a big move between June and early July this year from 1200 to 1370 and since then has been very sideways. It has quietly built a base at 1305. Recent polling indicates that US election fight is much closer than initially thought. Citigroup is out with a note stating that Trump victory will lead to a surge in Gold prices.
Gold currently offers a low-risk high reward setup on the long side. Please note - any decline below 1305 would indicate that market is not worried about Trump victory.
The State of Gold Bulls: Looking a Previous high
The question they are asking: Can Trump victory take us back there?
Disclaimer – The state of the market notes is Deepak’s perspective on the market. The column is purely for educational purpose. Nothing contained herein is a solicitation to trade or a recommendation of a specific trade. By reading this publication you agree to make no trade relying in whole or in part on the comments of the writers