Gold Price News and Forecast: XAU/USD bears take control
|Gold Price Analysis: Bears finally catch a break
Gold bears take control and break into fresh bearish territory. Further downside on the cards, but market volatility is here to stay.From an ongoing analysis, the bears have finally managed to catch the break that they were looking for and the prior analysis had forecasted originally. As illustrated, the trendline resistance held and the price eventually crumbled to the first target area.
Has Gold lost its shine?
Earlier this year, I talked about a “perfect portfolio idea,” which included buying the NASDAQ and Gold. The basic idea was based on a positive correlation between the two assets on an uptrend, with Gold staying relatively flat if the NASDAQ fell. Gold fell alongside equities today, falling around 1.67% to $1,877 an ounce.
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