There is more caution surrounding the deal between the US and China. Phase One is going to be signed in the next few hours, but investors were expecting more from this part of the agreement. The hypothetical Phase Two will take time and there is now no certainty on this.
For this reason, it’s very little surprise to see gold in green, recovering to the threshold of $1,550 The price is now playing with this key level, waiting for further directional signal in a short-term scenario still marked by risk-on.
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.