Due to another round of heated rhetoric between Trump and Kim, the gold appreciated against the buck by 0.93% just in one hour and then continued the surge. As a result, the pair started new trading session above the 200-hour and the 61.8% Fibonacci retracement level, which previously formed strong resistance. On the one hand, the rate could continue the soar and try to reach the 1,290.00 mark, using a barrier-free area in its favour. This assumption is additionally supported by the fact that fears over war on the Korean peninsula haven’t gone anywhere yet. On the other hand, after such sudden and massive loss, the buck traders inevitably are going to try to restore lost positions. There is a need to remember that the pair is still expected to reach the bottom edge of dominant channel up.
