Gold price has fallen to its lowest level since late July, while greenback continues to recover with the Dollar Index reaching 94.5.
Technically, an important point has now been reached with the break-down dragging the price down to the low point of August. This represents a bearish signal, as the price plummeted to $1,850, well below the support zone of $1,860, while the general market volatility rebounded.
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.