Down over $13 after reaching new highs since August 2016
The price gold reached a new high since August 2016 at $1366.15. That move took out the September high for 2017 in the process.
However, the comments from Trump has sent the precious metal down sharply. The pair trades down over $13 and is move below the early December highs.
The 38.2% of the move up from the December 2017 low comes in at $1316.64. That is the next target.
IF the tide turns for the dollar, the tide will also turn for gold.
