Gold and silver investors are waiting for the next Federal Reserve meeting and we have seen lower volatility in the last few days. From a technical point of view, the main trend remains positive for both precious metals; the silver rally, which started later than that of gold could go a lot further if the Fed confirms the dovish view expected by the market.
A first positive signal for gold would be a recovery to the key area $1,430, while the following resistance area is placed at $1,450, the peak reached last week. A decline below $1,400 would add pressure on bullion, even if the positive mode will be switched off only by a stronger decline to below $1,360.
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.