It’s no secret that the gold market has struggled for several weeks now. Following a convincing upside breakout in price that took the market to over the $1500 level, the gold bulls have not seen the type of follow through that they are looking for. In fact, prices have been on the decline since finding a top with seemingly little to stop the recent descent.
The gold market has possibly now found a bottom.
Although it is too early to tell; recent price action could potentially suggest a near-term bottom has been made. The market, while not seeing any significant bounces higher, does still have several key issues that may be considered bullish. These include the ongoing U.S./China trade war, easing monetary policies, the risk of a global recession