Trade optimism over the past few hours is seeing gold slip further today
Price is now starting to make its way below the 100-hour MA (red line) @ $1,407.21 and is approaching support near the $1,400 handle. If the latter starts to give way, we could see a deeper correction towards support around $1,380-82 and potentially the 200-hour MA (blue line) @ $1,377.38.
In the bigger picture though, gold is still having a stellar month and there's still a strong argument for it to maintain its allure in 2H 2019.
