Gold Price Trend 2019 – Buy the Dip Trading?

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Gold price levels have taken a tumble since our last analysis but has this turned into an opportunity for bullish traders? Join our Chief Market Strategist David Jones as he explores the dollar and gold relationship which seems to be driving the markets these last few months.

The gold and USD correlation isn’t something that finds its way in gold day trading strategies. But any gold trend forecast right now should definitely keep an eye on it. As the precious metal approaches two support levels at 1281 and 1276 we looked for an explanation of its most recent drop.

The weaker dollar could be one of the main culprits for the gold price trend 2019. A gold price daily analysis reveals that unlike previous dips, we don’t see a weakening U.S. stock market this time around, so it does seem like a reasonable explanation.

A gold technical analysis 2019 reveals the relationship with U.S. dollar index (which can also be traded on our platform under the ticker DXY) which has declined at the same time as the gold price in recent weeks.

So is this “buy the dip trading” territory? Bullish traders certainly might think so and their gold future trading strategy is based on. This will also be the third time the gold price approaches the support at 1281 in this calendar year. There was a rebound after each of the previous ones and is what buyers are hoping for this time around.

Give us a thumbs up if you enjoyed this video discussing if there will be a gold price increase or decrease in the future. And if you’re asking yourself “how can I invest in gold and silver,” then you can create an account with capital.com and trade with zero commission, no transaction fees and the tightest spreads https://capitalcom.onelink.me/700515151/youtube.

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Capital.com says:

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Roger Atkinson says:

Thank you. Sound advice.

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