Fundamental & Technical Outlook of the GOLD:
Gold had a turbulent intraday rally, but the US market unexpectedly ramped up its losses and fell instantly below the support level at the 1960 mark below. A new low was fetched around 1939. Although there was a large extent of a rebound in the short term, the high resisted briefly with the 1955–1958 mark. Although the market sentiment is primarily responsible for today's market volatility, which is similar to Monday's decline, this sort of direct market penetration is also temporarily consistent with the bearish expectation of the general trend of gold. However, we also must be careful because market sentiment may change again.
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