The Gold price movement currently moving at downtrend direction, but it could create another lower high point. The GOLD moves nicely into the trend with hitting the upper and lower bands channel line. Based on its behavior, the bounced and correction it could in the ranges of approximately 3.5%-4%.
Now the GOLD price touches the lower bands of the trend channel, i expect it could have a rebound and create another lower high point (approximately at 1,495).
On the other hand, the GOLD rebound could cause the equities market to have a minor correction and it could just a short term pull-back. But i expect equity/stock market could continue bull run after Gold touch the resistance level (1485-1500).
Now the GOLD price touches the lower bands of the trend channel, i expect it could have a rebound and create another lower high point (approximately at 1,495).
On the other hand, the GOLD rebound could cause the equities market to have a minor correction and it could just a short term pull-back. But i expect equity/stock market could continue bull run after Gold touch the resistance level (1485-1500).