Gold prices relatively quickly absorbed the small sell off seen on Wednesday, recovering in a few hours, and stabilizing above $1,770. There are no big market movers expected today, after the US Non-Farm Payroll data was brought forward to Thursday, ahead of the Independence day weekend.
Gold volatility decreased once again, and prices seem set to hold at current levels but are not yet ready for a strong attack to the $1,800 area. Technically we can find a first resistance at $1,7890, on the top reached two days ago, while $1,765 has now became a support zone for the spot price.
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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© 2019 High Leverage FX - All Rights Reserved.