Delayed Quote. Delayed  - 08/07 10:18:55 pm
2034.343237USD +0.00%

Sensible consolidation

09/11/2019 | 05:54am
Lonce prices are now entering a phase of consolidation, a legitimate step following the bullish trend of gold metal, which has risen by 24% over a sliding year.

Profit taking coincides with a greater appetite for risky assets, where major central banks are working to support the global economy and gain investor confidence. As such, the world's largest indices are once again using the same methods as their annual highs, while negative returns are widespread across a large number of government benchmarks.

In addition to this broom of central bankers, there is an increasingly persistent theme linked to recovery policies. In particular, China could increase its infrastructure spending, while in Europe, Germany, on the verge of recession, is accelerating its thinking on a fiscal stimulus In this context, the easing of commercial tensions, whether ephemeral or not, is sufficient to alleviate the fears of operators, who switch to "risk on" mode, to the detriment of lor.

Graphically, in daily data, gold prices once again failed below the 1550 USD line, a significant resistance that was used as support in 2011, 2012 and 2013. This failure thus acts as a consolidation phase within a bullish underlying trend. This can extend to the 1440 USD zone, a level that would coincide with the 100-day moving average, and would allow buyers to return at a low cost
Jordan Dufee 2020
Copier lien
Latest news on GOLD
5h ago
6h ago
7h ago
7h ago
7h ago