Gold is holding at $1,400 and this is a positive signal of consolidation after last week’s rally. Investor interest in bullion is still high and the weakening of the greenback represents another positive element for gold, after the dovish FOMC statement of last week.
The gold rally pushed silver up to, but the scenario in this case is less strong, as prices keep bouncing on the resistance area at $15,5.
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.