Phil Carr
The Gold & Silver Club
Gold prices inched lower on Tuesday, dropping for the first time in four sessions, as the dollar rebounded from multi-week lows amid simmering Sino-U.S. trade tensions and as bullion failed to surpass strong resistance.
Signals are mixed for spot gold as it failed twice to break a resistance at $1,287 per ounce.
However gold seems to have found a base around $1,270 despite failing to break much higher.
Hedge funds and money managers sharply reduced their net long positions in COMEX gold in the latest week.
Where are commodity prices heading next? Watch Phil Carr at The Gold & Silver Club review Gold with the latest price forecast and predictions:
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