Since mid-July gold has been collapsing. The price of gold fell over 11.5% and is now trading under $1200.
The gold is always affected by the US Dollar. Whenever the dollar raises, the gold drops and the other way around. In the chart below you can see how strong the dollar is doing (the blue line) and how is affects the gold (the red line).
Trading Tip: The big question is how far Gold will continue to be sold. Keep in mind it is long term view so patience is required. Watch closely for the gold price as it may rise after such a big fall.
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