The gold price is consolidating above $1,800 with bullion holding onto this significant threshold despite stocks in green. This confirms investors’ huge appetite for the yellow metal in this uncertain phase on markets. Technically, apart from the psychological level of $1,800, we can see a first support at $1,790. As long as the price remains above this level, the bullish movement will continue, pulling up the price to new highs.
On a separate note, the trend remains positive also for silver, with the spot price again above $19 as investors are betting on a quick economic recovery.
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.