The longer the development of the US-China trade agreement is lacking, the better for Gold

The longer it is lacking in US-China trade agreement development, the better for gold.

Gold futures are rising as there is no first phase development of the trade agreement for more than 2 weeks.

Gold still seems to be very much following the tone of trade negotiations and is also seeing support from the increased demand for safe havens.

Gold has been a safe haven throughout the trade war, and losses in early November came after the White House and China initially announced a plan to resolve their sharp 16-month trade dispute.

The last thing the market heard something positive about trade talks was on Tuesday when Trump said a deal could happen soon.

Technically, profits over the last two days may just be a bearish flag, leading to a continued fall in prices. Now the focus is $ 1450 support. If prices stay above this level, the Bulls can find enough confidence to push prices back to $ 1,492; if that level of support fails, then we may see a drop to $ 1,425 in the near future.

 Trader Martin Nikolov

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