Being influenced by the North Korea and the US threats, Gold dropped to 1200 area.
The support rests at 1288.54 with resistance at 1300.55 which both lines are below the weekly pivot point at 1304.23. The EMA of 10 is moving with bearish bias along the descendant channel and it is below the EMA of 200 and the EMA of 100. The RSI is falling towards oversold area, the Stochastic is moving in low ranges and the MACD indicator is in negative territory. The ADX is showing sell signals. The price is below the Ichimoku Cloud and the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing a horizontal trend.
Gold will continue its bearish trend towards 1280.

gold analysis