Once again the market rejects an attempt to turn the trend down into a sustained bear selloff. The rebounding action in recent days provides a short term bullish signal and call for rallies to attack 1974.0 resistance. A close over 1973.0 is bullish and targets a drive to 1992.0.
Gold rose on Tuesday morning in Asia as the dragged down. The precious metal pushed up by 1% after the greenback had its worst day in a fortnight. Trading in Asia pushed gold even higher as the currency differential came into full effect, making gold cheaper for currencies other than the dollar.