Here's What's Eating Away at Gold :: The Market Oracle ::
Gold is dodging bullets, as it comes increasingly under fire from rising U.S. interest rates and a USD that is poised to surge. Catching unsuspecting traders in yet another bull trap , gold’s early-week strength quickly faded. And with investors unwilling to vouch for the yellow metal for more than a few days, the rush-to-exit mentality highlights a short-term vexation that’s unlikely to subside. Please see below: Figure 1 Destined for devaluation after hitting its triangle-vertex-based reversal point (which I warned about previously ), the yellow metal is struggling to climb t...
Source: marketoracle.co.uk