Since my last analysis on the movements of Gold futures in different time frames, I find that Gold futures look ready for a technical bounce due to growing uncertainty over U.S.-China Trade and the Fed policy.
The South China Morning News reported on Saturday that the proposed summit to end the trade conflict between the world's two largest economies may be pushed back to June. The proposed meeting to sign a trade agreement at Trump's Mar-a-Lago club had originally been targeted for March, then pushed back to April.
The persistence of dollar weakness on Tuesday was impacted by growing expectations that the Federal Reserve would shift to a more accommodative policy stance this week and concerns about slower U.S. economic growth.
I find the Gold futures look ready for a breakout during this week very shortly.
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