The gold price has started the week in green. Fears over the coronavirus spreading further are pulling up the price as investors are switching some liquidity from stocks to safe havens. Despite the strength of the greenback, the bullion price is taking advantage of this uncertain situation and has recovered to $1,580.
The main trend remains bullish, with the short-term correction seen in the last few weeks seemingly over, increasing the chance of the price achieving a new 7-year-high in the next few weeks.
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.