The decline of stock markets seen yesterday, and the fall of the US Dollar are once more lifting up gold. Investors are facing an increased volatility in currency and stock markets and gold is strengthening, once again as a safe haven. Traders and fund managers are hedging gold against turbulence in stocks and further declines of the greenback.
From a technical point of view the strong rebound seen in the last 48 hours, after the test to $1,900, is still showing strength from buyers.
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.