Gold Outlook for 16 October 2017

Bullish

After a strong performance in the second week of October, we are now bullish on gold in the medium-term. The US dollar has been weak, and is pulling back after moving into short-term overbought conditions. There are also doubts about Trump's ability to get tax reforms through Congress. The caveat is that gold is trading close to overbought conditions when looking at various technical indicators, thus caution is warranted. 

Updated