Gold Outlook for 13 October 2017

Neutral

Looking at the medium term picture, we are now neutral on gold after the precious metal rose in the second week of October. The US dollar is broadly correcting based on renewed concerns that Trump may not be able to pass the tax plan, and given recent strength in the euro and the Chinese yuan. Today, prices have re-entered normal trading conditions when looking at various technical indicators, and gold no longer looks overbought. 

Updated