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Gold Prices Sink to Seven Week Low as Big Week for the Buck Begins

Talking Points:

- Gold technical strategy: Long-term mixed, Intermediate-term bearish, short-term bearish.

- IG Client Sentiment is currently showing +3.63 traders long for every one short, and given retail sentiments contrarian nature, this is bearish.

- If you’re looking for trading ideas, check out our Trading Guides. If you’re looking for shorter-term ideas, check out our IG Client Sentiment.

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In our last article, we looked at the continued down-trend in Gold prices after last Monday’s bearish breakout. And just like last Monday, this week has opened with another fresh Seven-week low showing in Gold, and just as we advised last Monday – traders will likely want to avoid chasing the move and, instead, let prices work back towards...


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