Sure, there’s a week still before all these tariffs are made official. So, there’s scope for negotiations and what not. But in a time when emotions are running high and dominating trading sentiment, it’s hard to calm down the broader market reaction.
Gold has shot up from $3,093 to $3,110 now and it also got some help with dip buyers defending the 200-hour moving average (blue line) as seen above.
As mentioned earlier, gold might be dragged through the mud alongside other precious metals so far on the week
Gold picks itself back up as the trade war rhetoric escalates
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