Any correction in bullion prices is still seen by investors as an occasion to buy more gold. Uncertainty continues to dominate the market and despite a recent rally of the stock market investors continue to add gold to their portfolio as an insurance in case of a return of turbulence.
Technically, we are close to an important resistance area placed at $1,730/1,735 and surpassing these values would make space for further bullion rallies as the precious metals still appears to be a positive trading environment.
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.