Gold spot price is relatively steady around $1,970, as volatility decreased and bullion remains strong despite the recovery of stocks seen in the last 24 hours. This could be a temporary situation as investors are looking for further market movers. It is clear the resistance level of $2,000 is a strong threshold for the price and significant volumes are placed there. Any news regarding new monetary stimulus from the US Federal Reserve could trigger gold to break up the resistance level of $2,000.
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.