Gold is down

Quotes of gold were down on the trading session on Wednesday, reached a new local maximum at around $1318.75, after which they recovered to the level of $1323 per troy ounce by the end of the day. Strengthening of the US dollar against most other assets was the main reason for the decline in gold. However, quotes are still traded in the range 1300 - 1350, and any attempts to go beyond the corridor quickly fail.
Reduction of the price of gold within the range is also connected with the fall of geopolitical tension without the development of the conflict between the US, Syria and Russia, and also thanks to the statements of Donald Trump about possible agreements with China to end the trade war.
In my forecast for today I expect a further decline in gold quotations to support levels of 1320, 1318 and 1315 dollars per troy ounce.