Michael_Macdonald-XATSUK

Gold continues to underperform SPX

OANDA:XAUUSD   Gold Spot / U.S. Dollar
There seems to be no respite in the bearish Gold trend, with prices extending the July bear trend.

Falling momentum studies and bearish longer term charts suggest further downside risks into early 2017.

From a cross asset perspective, Gold - and Precious Metals in general - continue to underperform US equities, suggesting asset managers will maintain a long SPX , short Gold (Precious Metals) allocation.

This could help keep US stocks buoyant in the coming weeks, but other commodities classes, eg Energy, Base Metals and, to an extend, Agriculture, could provide a counterweight.

Comments

Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out