The area of $1,530 has temporarily arrested the gold rally, proving to be a first resistance level in the way of bullion. Some investors are taking profit after the long bullish rally, while Donald Trump’s decision to postpone after Christmas the new tariff against China curbed the risk-off scenario.
The price is now playing near the $1,500 level, with a main trend that still appears positive as investors are betting on gold after the new dovish moves of many central banks.
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.