Just a few minutes after the announcement that Donald Trump and his wife tested positive to coronavirus, gold has spiked up by over $20. This happened while S&P and Down Jones futures lost more than 1% and the Dollar started to weaken again.
Bullion is now testing again the resistance level of $1,920, while investors are trying to understand the effects of this news and how the US election campaign will be impacted. While it is too early to judge the full ramifications, gold is again confirming its strength as investors attention on the precious metal remains significant.
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.
© 2019 High Leverage FX - All Rights Reserved.
© 2019 High Leverage FX - All Rights Reserved.