We have seen an interesting rebound for gold in the last few hours, with the spot price bouncing up by $20 to get close – once again – to the resistance level of $1,850. A clear surpass of this barrier, could open space for further rebounds to $1,872-$1,875, while a next key level is placed at $1,900, which is the “post vaccine” high for gold. Interest on gold remains high, with a market that is trying to stabilize on these new levels.
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.