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Jean qui rit, Jean qui pleure …

Jean qui rit, Jean qui pleure …

The good news will have been short-lived; after the announcement of an (almost) Brexit deal, the English minister of the same Brexit resigns.

Small blow hard (one more) for the euro which posted last night a nice rise to almost 1.1350 but returns this afternoon to 1.13 ...

This rise to 1.1350, however, had the merit of bringing the ounce of gold to 1215 usd, moving away (temporarily) from the bar of 1200.

We previously mentioned the head start of the dollar on the euro. In fact, US inflation is accelerating (with the corollary of a further rise in interest rates) as the growth of the euro zone slows down, and that's not to mention Brexit and Italy which does as it pleases ! Not good for gold against dollar!

What is more important is the drop in oil prices, which is always accompanied by a drop in gold. It is therefore not on this side (or at least not for the moment) that we have to look for any support for the yellow metal.
To summarize: Gold does not find support from the dollar or oil BUT this support could however come from the stock market, so stay vigilant.