The gold price is still dancing just above the support level of $1,550, as investors are waiting for further market movers. At this stage, the coronavirus from China is not having any strong impact on bullion.
From a technical point of view, the challenge between the weakness seen in the short term – which is mostly due to the strength of the US dollar and the general risk on scenario on the markets – and the bullish trend of the last few months is continuing.
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.