Gold pulls back Monday as Dollar pushes ahead

• Gold retreats following 18-month high

• Major risks for USD pose a potential boon for Gold

Gold pulled back Monday as the US Dollar surges following several weeks of consistent losses for the Greenback; Gold is currently trading below last Friday's close of $1349 per ounce after touching an 18-month high of $1365 late last week.

Gold stands poised to benefit from multiple risks to the US Dollar, including an ever-weakening USD at the hands of currency-devaluing rhetoric fro mthe Trump administration; war between the US and North Korea following antagonizing statements from both nation's leaders; a trade war ensuing between the US and China following tariffs and restrictions on trade between the two countries put in place by President Donald Trump; and the ever-present risk of impeachment proceedings against President Trump moving forward, which are being called for by members of the US Democratic Party on a consistent basis.

Gold Technicals

If the US Dollar continues to gain in global markets, the recent pullback in Gold from $1370 could price in as a swing point, sending the precious metal back into heavy support at $1305 an ounce.