A soaring USD, broken key tech levels and falling inflation expectations have exacerbated the sell-off in gold in recent days. Alongside this and as I pointed out last week, a death cross, which has now formed, had been looming and thus providing another bearish signal for gold. However, as I noted previously, I am typically sceptical of these indicators working consistently and despite the subsequent price action on this occasion, I still stand by that view. A death cross or golden cross should not be the sole reason to enter a trade, merely add to your current thesis as to why you are making that trade.
