Gold remains in a positive technical environment, despite price declines seen yesterday. Evidence of resilience in bullion markets has been seen this morning, with a good number of investors prepared to buy into dips and seemingly not worried by price corrections.
Technically, spot prices have fallen in the intraday trading below the support zone of $1,725, before recovering in the last few hours. The early trading of today seems to be confirming that the support level is still valid, after yesterday’s test.
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.