What does Gold need to shine again?
In the bigger picture gold has been retracing recent gains on optimism that a US-China phase 1 trade deal will be reached. In September this year realised volatility hit a three year high as prices rallied. However, that volatility has reduced as ETF investors take profits. So, what's next for Gold? Yesterday's tweet from CNBC's Yoon gave some bids to gold on US-China trade talk concerns.
For Gold to keep gaining it will need a breakdown in the US-China phase 1 trade deal . Otherwise expect more gold downside and a deeper pullback.
