Gold Technical Analysis – We are testing the bottom of the range ...Middle East

Fundamental OverviewYesterday, we got the US ISM Manufacturing PMI and even though the headline number missed expectations, under the hood the report was better than the prior month. The bad news was new orders falling further into contraction, which is a proxy for demand, and it’s generally considered as a leading indicator. What weighed the most on gold might have been the selloff in the stock market. Gold generally suffers when there’s a notable selloff in the stock market as that tightens financial conditions. The technicals should give a better picture in the next days as we get more data. Gold Technical Analysis – Daily TimeframeOn the daily chart, we can see that gold fell to the supp

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Gold Technical Analysis – We are testing the bottom of the range ...Middle East

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