Gold – Correction or full steam ahead? (video)

Gold barely flinches at Trump tariff announcement

Gold seems to have barely flinched at Trump’s announcement despite it being positive for risk, the dollar and the economic outlook, highlighting just how bullish the market is right now. Sure, the yellow metal fell a few percent on the announcement but it’s already back above $1,500 and looks relatively undeterred. The central bank environment right now is clearly aiding this unwavering belief in the rally and perhaps this just isn’t viewed as the game changer for interest rates as it maybe is for the US holiday period.

OANDA Senior Market Analyst Craig Erlam discusses all of this and gives his analysis of the gold chart.

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.