Sasha Singh
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Gold : Fear Among Investors Supporting Gold Prices

(XAUUSD : 4 Hour Chart)

Gold also seems supported on the 4 hour chart, as there is a rising support trend line since a long time which is preventing the commodity to move below it. However currently there is a falling resistance trend line also which together with the rising support trend line forming a symmetrical triangle trend. It seems to me that Gold is going to rally once it will reach the apex of the triangle. Along with the support trend line 200 day SMA might also provide support and might push the pair up. So the losses seems limited. If there is a break down below the support trend line then a bearish outlook may emerge on Gold and we might see some more losses in the commodity. The next support gold may find is at 1282.72 if it continue to decline. However if it rally, the nearest resistance it will find is at 1324.72.

Today University of Michigan is released a Consumer Sentiment Report at 9:55 AM EDT which might make some changes in Gold. However fundamentally the geopolitical tensions between Russia and Ukraine continue to support the demand for safe haven. Remember Gold always react opposite to US dollar. So if the data beats the economists expectations, gold decline and if not Gold goes up.