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 Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam