The gold prices have updated the annual low

July 20, 2015

Sell on a level breakthrough of 1104 with 1086 target. Stop loss = 1120.

Reason for the trading strategy

Expectations of growth in interest rates in the United States put pressure on gold. According to our estimates, the US Federal Reserve will raise its key interest rate in December 2015. In the medium term, the value of one troy ounce of gold could fall to 1 thousand dollars.

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