20th April 2017

 Gold’s upward climb seems to have stalled somewhat, as not even a weaker Dow on Wednesday did much to spur prices higher. Instead, a slightly stronger dollar may have led to the selling we saw, as did a slight back-up in US interest rates and weaker oil prices. However, we think a more likely reason for gold’s decline is that markets frequently need a period of consolidation and retracement after a major move before embarking on their next foray.