During the Brexit Gold reached 1358, following growth up to 1375 and then decreased until 1300 area. There are two months that gold remains between these levels. What follows him? Certainly FED’s rate decision, and US presidential election. September 21 was awaited a decision from the FED. But nothing. I have said many times, like many others, the US economy through the data we see lately does not support a rate hike. Although the rate remained the same, at the press conference Yellen said: “Our decision not to raise rates does not reflect our lack of confidence in the economy”. Really?! Or is it a way of saying: “Do not get involved before elections”? That’s the context in which Trump has accused EDF and Yellen make the game as the Obama administration and democratic candidate Hillary Clinton. In response, without naming names, Yellen said: “We do not discuss politics at our meetings, and we do not take politics into account in our decisions,” I don’t think so, and not only me. In the next night we have a Trump-Clinton debate. How this may affect Gold? If Clinton win debate, Gold will remain in a standby accumulating energy for a new climb, but if Trump win debate Gold will go to the 1375 level.
This is my opinion about Gold before the Trump-Clinton debate. Clinton win, Gold on 1338-1340 range. Trump win, Gold run to 1375.