Gold is edging closer to the first resistance level at $1,850, thanks to a weakening dollar. A clear climb above this threshold could open space for further recoveries, but so far the general risk-on mood on stock markets is pushing investors to buy riskier assets, hoping for quick profits. Despite some signs of an economic rebound, US labour data showed once again that it will take a long time to achieve a full recovery. This would probably force central banks into further stimulus, which would weaken the greenback again and increase investor appetite for bullion.
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.