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Gold broken new record price jump above $1,820

Carlo Alberto De Casa by Carlo Alberto De Casa
July 21, 2020
in Forex, Markets, Opinion
Reading Time: 1 min read
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Gold broken new record price jump above $1,820
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Gold has broken a new record, with the spot price jumping above $1,820. We can say that this is due to the weakening of the greenback or from the significant deal reached by the EU, but the reality is quite simple: there are many more buyers than sellers.

Despite stock markets once again in green, investors are looking for a parachute in case of future stock market collapses and are buying gold as insurance. Technically after the price broke through the resistance level of $1,818, there is space for further recoveries, with the trend remaining very positive.

Tags: EU virus relief packageGold PriceStock marketUS Dollar index
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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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