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GOLD peaked during yesterday‘s session at $1300.70

SquaredFinancial

Fundamental Highlights

The yellow metal peaked during yesterday‘s session at $1300.70 per ounce but quickly reversed amid a recovery in equity prices in Wall Street and despite a decline of the US Dollar across the board. Data released yesterday showed retail sales in the US declined by 0.2% in April, against expectations of a modest gain while industrial production dropped by 0.5%, also worse than market consensus. The date had no lasting impact. Reports about trade and the probability of a delay in tariffs imposed on European cars from the US helped risk appetite, but not the precious metal.

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Source: https://www.squareddirect.com/blog/technical-analysis/gold-technical-analysis-16-05-2019
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