There is little volatility on gold, with the price dancing just above the key support level of $1,550. It is clear that investors are waiting for further market movers, after tensions between the US and Iran have eased and Phase One of the trade deal has been closed.
The bearish pressure has now moved into a lateral or consolidation phase after the huge rally, with the price steady between $1,550 and $1,560 and looking for a clear direction.
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.