What Happens To Gold If U.S. Pulls Out Of Iran Deal?
What would be the impact on gold ifthe U.S. pulls out of the Iran deal? The simple answer is nothing, as gold hasnot benefitted from the talks, threats and possibilities. Today at 2 p.m. EDT, PresidentTrump will announce to the world his decision, which should be that we arepulling out of the deal with Iran.
Throughout the talks, oil hasbeen spiking higher while gold has struggled and sold off. Most thought thatgold should have rallied through this uncertainty, but it hasn’t. Gold has soldoff from $1,365 and appears to be under pressure. The current action suggeststhat gold is headed lower.
Add to the mix the explodingdollar and you have a recipe for gold to go to $1,280 and now possibly $1,240.To quote the Duke Brothers from the movie Trading Places, “that can’t be right.”Of course it is right, and the gold market looks to be headed lower.
Keep those stops tight.
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