Gold is getting a boost from the growing uncertainty over the macroeconomic scenario and the decline of stock markets. Weak US data has added to the worries, pushing investors towards safe havens, while expectations for further interest rate cuts grow.
Technically the recovery to $1,500 is a positive signal for bullion, while the following targets are placed at $1,519, on the high reached yesterday, and at $1,532.
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.