Gold price has plummeted with four negative sessions in a row, which has pulled down the price to $1,450. Bullion was heavily sold on growing expectations of a trading deal between the US and China and due to the strengthening of the greenback.
Moreover, after a relative long lateral phase between $1,480 and $1,515, the breakdown of the support level of $1,480 has trigged some profit taking, with investors willing to bring home gains achieved in the first part of the year after this correction. We are also seeing some outflows from the ETF sector.
