“Risk on” continues to dominate markets yet despite this, the gold price is holding above $1,800, confirming the high investor interest for bullion.
Technically, nothing seems to have changed with a first support zone at $1,790-$1,795 and a resistance level at $1,815. The positive correlation of the last few months between gold and stock markets movement is related to the fact that investors are increasing their share of stocks in their portfolio but at the same time want to have insurance in case of further market corrections and gold seems to be the perfect asset to play this role.
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.