All of a sudden, it fell! Where does gold go in the future?

SMM3 News: after 13:30 in the afternoon, almost all varieties began to start the market, in which the internal and external colored, black, crude oil began to pull up sharply, gold rapid diving, broke the previous upward channel, fell below the middle track of the Brin belt. The K line runs into the weak area.

From a macro point of view, the US fourth quarter GDP released yesterday was better than expected, boosting market confidence in the US dollar. On the other hand, with the substantial progress made in the Sino-US trade negotiations, the market began to turn to high-risk areas. This fact is confirmed by the fact that the Shanghai index is up 1.8 per cent again today.

However, the global economic slowdown will continue to support gold, which is expected to continue to run above $1300. In the short term, there will be no new positive factors, and the gold price will make a further correction. In the long run, the correction in the US economy will be smaller than expected by the market. Globally, at least, it is worse than the European economy. The space above gold is uncertain. There is also strong support below. Pay close attention to the December PCE price index in the United States in the evening.

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