Gold prices may be in the process of reversing prior downtrends, as persistent trade war concerns have brought about a renewed safe-haven status for the precious metals complex. This year, most financial news headlines have centered on the record highs which have been notched in the equities benchmarks. However, over-extended valuations in stocks and declining expectations for corporate earnings suggest that the market is likely focusing its attention in the wrong areas.
Last week's trading saw gold holding in an upside consolidation, with the metal forming its low in Monday's session with the tag of the 1278.10 figure. From there, strength was seen into a Wednesday high of 1292.80 - before turning slightly lower off the same to end the week.
Gold has been a part of the human story since the dawn of civilization. One part store of wealth, one part ornament, and one part modern technology, gold stands at the crossroads of multiple financial, religious, and industrial trends.
