The rates continue in the frames of an upward trend, despite the fact that Gold in April and May witnessed a decreasing in price amid the strengthening of the dollar and a decrease in geopolitical tensions. The probability of a large-scale trade war is also reduced, which motivates investors to invest in riskier assets.
This week Gold prices fell to the lowest value for 2018 to 1285 dollars and continue testing the support line. The USD continues to strengthen against major currencies thanks to an increasing probability of an active increase of the FED rate and growth in the yield of 10-year government bonds. In the near future the dollar may receive new support with the release of recent data on the real estate market and the upcoming speech by the Federal Reserve chairman. If that news matches investors' expectations the USD will increase in price.
In the short term the most optimal would be the deals to SELL. However, the upward trend is likely to continue, and in the medium or long term the deals to BUY will still be able to please investors with a good profit, given also that the rates have already moved to the oversold zone, and we can expect a price correction.
