Investors’ hunger for gold remains unsatisfied with the bullion price skyrocketing in the last few days to the highest in 9 years. The price has also achieved historic levels in many other currencies, reaching 50,000 Indian rupees per 10 grams for the first time while in USD the price surpassed $1,850, confirming its solid bullish trend.
In this scenario, with growing expectations for a quick economic recovery, silver seems to be the main winner, with the price jumping close to $23, before slowing down to $22. We are in a state of euphoria for this precious metal, as its price is up 90% from the bottom reached just four months ago in March’s panic selling.
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.