Gold price remains volatile. Resistance at $1,980 pulled down the spot price before it found a support zone at $1,945 to rebound to $1,960. Gold is now in a consolidation phase but the quick rebound when the price collapsed to $1,900 two days ago confirms that investors’ appetite for bullion is still significant and the main trend remains bullish, despite some traders taking profit after the massive rally of the last few weeks.
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.