In our intraday analysis on gold from yesterday we were expecting the yellow metal to drop at least to 1373. As you can see on the chart below, gold developed well, falling from 1384 to 1350 in an impulsive manner. The white rectangle shows where we were yesterday, when that forecast was made.
After every five waves, a retracement in 3 waves has to be expected, before the larger trend resumes with another impulse in the direction of the first one. It will not be unnatural if gold returns to the 1375 zone.
Chart by www.trader.bg
