As trade truce was broken by Donald Trump overnight tonight, traders all around the world are forced to flee further away from Asian economy as well as from assets which have a high chance of being hit in the process. And as always it was expected that traders are going to flee to the usual safe havens – gold and JPY. But over today the situation for gold became even worse, if you can believe it. The metal although carrying the status of safe haven is losing the price under the weight of growing greenback – also a quite predictable outcome.

Although those who short the metal might have caught some pips on the up-movement we are generally looking at a downtrend caused by the growth of the greenback today. It seems today whole picking safe havens traders preferred dollar way more than gold.

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