The gold price has fallen on the return of an appetite for risk-on assets, combined with the recovery of the US dollar. The rebound of Asian stock markets is giving some optimism to markets, moving liquidity away from gold.
The price crashed through the support level placed at $1,572 and is now approaching the level of $1,565, where prices are expected to find a stronger support.
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.