Gold remains as aloof from the general fluctuations, although commodity platforms storm is not the first week. It looks unusual.
Amazingly, while the price of gold does not grow, although the threat of rigid trade war between the US and China are becoming more pronounced. Gold is commonly used by investors as risk-hedging instruments and assets "safe haven", but even against the background of what happened yesterday with commodity and financial markets, the flow of customers in gold has notincreased.
This can be explained, on the one hand, the emotion of local investors on the stock exchange: it is not strategic investors, while short-term traders who do not set the task to work in the medium and long term, and earn market swings. In fact, this crowd that is running in one direction and drags all of those who doubt. On the other - the low demand for gold as a tool of risk aversion may mean that the investment world really does not understand what could lead opposition to the trade interests of Washington and Beijing.
Given that the US has already entered from July 6, raising import duties on $ 34 billion (this is the first stage of a two-step for the protection of the internal market program), and announced a new initiative to duties introduction already at $ 200 billion, it is clear that this is not simply a complication of relations. This is a real trade war, likes it or not. At the moment, China is responsible for commercial aggression States only verbal attacks, but if the response real duties are introduced, they can override the range of influence of those that launched the United States.
This morning troy ounce of gold is trading at $ 1244.80 and growing symbolically. According to estimates, "Alpari Gold", the technical picture for the precious metal is maintained negative, the downtrend remains in force since April 19 this year, and there is no signal of his shift. Day trading schedule allows for reduction of gold to the July low of $ 1239- $ 1240 can rectify the situation of the market demand for safe assets.
Analysis and forecast gold Anna Bodrova Alpari