Gold rebounded to $1,500 on the back of new trade tension. The new US tariffs against the EU generated a sell off on the stock market and bullion found strength as investors were moving once again towards safe haven assets.
The short-term trend remains mixed, while the medium-long term is still positive for bullion. The strength of the rebound seen in the last 48 hours is significative, confirming that investors are still seeing any correction in gold prices as a good chance to add more bullion to their portfolio. From a technical point of view, the next few days will be crucial for understanding the strength of this rebound and if bullion can hold $1,500.
