Gold price continues to skyrocket as demand for the precious metal surges. The main thrust is coming from the investment sector, after ETF gold demand reached an historical high.
Technically, we are in a new and not yet explored scenario for gold, which is reflecting the huge hunger of investors. While demand from the jewellery sector is muted by the Covid-19 crisis, we are witnessing an euphoric phase, where investors are not considering technical indicators or fundamentals as they are simply focused on increasing their positions on gold, The prevailing uncertainty along with growing expectations for further dovish actions by central banks is likely to fuel this phase..
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.