The decline in gold quotes has a negative influence on the European currency. Gold falls against the background of contraction in real negative yields on US 10-year Treasuries. If last month the negative profitability was 4.17%, now the figure is 3.93%. The lower this indicator, the cheaper gold will be.

The current trend indicates that the precious metal may test last month’s minimum (1687.74). I would like to note that the world’s largest gold mining companies such as Barrick Gold, AngloGold, Polyus expect a decline in gold prices to $1,500 per ounce in the coming months, considering this price to be fair.

Trading recommendation: Sell at 1.1755/1.1780 and take profit at 1.1710.