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    Asian equities could take a boost after strong gains seen on US equities

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    USDMYR Technical Analysis

    USDMYR Technical Analysis

    Asian equities observe positive start as optimism on Wall Street echoes

    Asian equities could trade with negative bias reflecting caution awaiting Nvidia’s earnings report

    Asian equities could take a boost after strong gains seen on US equities

    Asian equities likely to trade within narrow range following volatile session on Wall Street

    Asian markets may experience volatility as global participants eagerly await significant upcoming events

    Asian markets may experience volatility as global participants eagerly await significant upcoming events

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Gold seems unable recover after last week’s sell off

Carlo Alberto De Casa by Carlo Alberto De Casa
March 16, 2020
in Forex, Markets, Opinion
Reading Time: 1 min read
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Gold seems unable recover after last week’s sell off

Photo by Color Crescent.

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The gold price jumped up to $1,570 on today’s open, far higher than Friday’s close, before returning to $1,535. Despite the huge liquidity that the Federal Reserve is splashing into markets, bullion seems to be unable to recover, at least for the time being, after last week’s sell off. 

We are in a scenario where investors are selling whatever they can and this has also affected gold, probably more than it should be. The price is now dancing around the key support level of $1,530-$1,540, with large amounts of volatility. If bullion can manage to hold these levels then there is a good chance of a rebound to $1,575-$1,580.

Tags: FEDGold
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Carlo Alberto De Casa

Carlo Alberto De Casa

Chief analyst at ActivTrades and technical analyst for Italian newspaper 'La Stampa'. Carlo Alberto provides regular commentary for UK outlets including the BBC, Telegraph, the Independent Bloomberg & Reuters. He is also a weekly commentator for CNBC Italy and a columnist for La Stampa. He worked for Bloomberg as their Equity Research Fundamental Analyst before joining brokerage ActivTrades in 2011 to specialize in currency markets and commodities. In 2014 he published a 250-pages book on gold and the gold market, followed in 2018 by a new updated edition.

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