Gold prices pared losses from earlier this week as the precious metal reversed to close bullish on Tuesday. This sent gold prices briefly higher to test the six year high established few days ago. The reversal in gold prices comes amid renewed threats on trade against the EU. This curbed investor sentiment earlier this week when the US and China called for a truce to trade wars.
Will Gold Breakout Higher?
The current reversal in gold prices means that we see a consolidation taking place. Unless the precious metal breaks out higher above 1431, we could see some pullback. The lower support is formed at the reversal area of 1385. This support could potentially stall the declines in the short term
