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Gold Prices Will Likely Continue Lower

Gold Prices Will Likely Continue Lower

David Rodriguez, Head of Product
ssi_GOLD_body_Picture_12.png, Gold Prices Will Likely Continue Lower

GoldRetail FX crowds continue buying into Gold price weakness against the resurgent US Dollar—we like doing the opposite and selling into weakness.

Trade Implications – Gold: There’s a risk that Gold’s failure to take out fresh lows leaves it in a good position for a bounce. But we’re sticking to our guns here on a potential for US Dollar strength, and very one-sided retail sentiment leaves us plainly in favor of Gold price weakness against the resurgent USD.

--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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