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Message: <blockquote data-quote="DON999RU" data-source="post: 23256640" data-attributes="member: 498415">Sea Of Red In Europe As Italy Risk Rocks MarketsA deepening political crisis in Italy provoked a second day of heavy selling on European financial markets, with the euro cut to a 6-1/2 month low, stocks punished and short-term borrowing costs surging for the government in Rome.Italy’s FTSE MIB led losses across the continent, with the index down around 3%.Investors also fled Italian debt, as the 2-year bond yield soared by 172 percentage points to 2.42%, the biggest one-day rise since 1992.Italy's anti-establishment parties abandoned plans to form a coalition government after the country's president, Sergio Mattarella, refused to accept their euroskeptic candidate for economy minister.Mattarella then asked Carlo Cottarelli, a former International Monetary Fund official, to try to form a new government, with snap elections expected.Financial markets fear that the elections, which could take place as early as August, may become a de facto referendum on Italian membership of the currency bloc and the country's role in the European Union.That sparked the euro to slip below the $1.16 level for the first time since late 2017, while the gap between Italian and German 10-year bond yields - a measure of Italian risk - widened to its highest in over four years.Meanwhile, political uncertainty in Spain hit Madrid-traded stocks, as Prime Minister Mariano Rajoy’s struggle to stay in power raised fears of new elections.Source: Investing.com :Tuesday, May 29<img src="/styles/default/xenforo/smilies/default/rolleyes.gif"  class="smilie" loading="lazy" alt=":rolleyes:" title="Rolleyes    :rolleyes:" data-shortname=":rolleyes:" /> According to this, European(Italian) crisis would have a direct impact on Euro(to go down) which behaves 80%-90% similar to GOLD , there by ...we cannot expect GOLD/USD to move upward upcoming weeks.So due to this political unrest Gold is getting more and more Bearish sentiment.Stay up-to-date with news if you are a serious trader. <img src="/styles/default/xenforo/smilies/default/wink.gif"  class="smilie" loading="lazy" alt=";)" title="Wink    ;)" data-shortname=";)" />Good Luck !</blockquote>

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