On analysis of the movements of Gold futures, in different time frames, I find the Gold futures look ready to remain under selling pressure during the upcoming week amid growing trade war optimism. No doubt that the progress on tariff trade war front to resolve the ongoing tussle between the U.S. and China would pave much relief to global equity indices. I find that the escalation of the tariff trade war would lead to easing pressure on profit margins of corporates. No doubt, this ray of optimism will soon erase the recessionary fear shortly. I find the gold bugs may take some pause till the final outcome of the meeting; while the U.S. President Donald Trump will meet with Xi, probably in Florida next month.
Gold Futures Daily Chart – Expected Trading Zones For February 24th – March 31st, 2019
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