On analysis of the movement of Gold futures, I find Gold bulls too eager to move against all odds amid growing uncertainty due to the escalating tariff trade war. I find that the retaliatory move from China on Tuesday has resulted in a bounce in U.S. Indices, but also encourage Gold bugs too. Gold futures rose 0.14% to $1,207.50 a troy ounce. The trade war has resulted in a steep downward move and Gold futures have already been trading in oversold territory and are getting good support at the 200 DMA on the hourly chart, which may result in fresh buying from the current levels.
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