In other words, the main trend for gold remains positive and a clear surpass of $1,990 and then $2,005 would open space for further rallies. Despite stocks looking strong currently, with US indices at a new historical high, investors are increasing their gold investment as a strategic and defensive asset in case there are new market corrections. Moreover, the strong dovish monetary policy of central banks is another element which is supporting the gold price rally.
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.