Market Analysis

Gold is holding steadily above $1,830

GOLD
Gold is holding steadily above $1,830. Investor interest in bullion remains high, thanks to inflations fears and US job data, pulling the price close to the three-month-high.

Technically a clear surpass of $1,840 could open space for further recoveries, while the main trend remains supportive, with a potential target of the current bullish movement to the resistance placed at $1,870/1,875.

Meanwhile, palladium remains under the spotlight, as the price is back close to $3,000. Palladium is soaring on growing expectations of a further deficit in supply. Demand – mostly from the automotive sector, where the precious metal is used in catalytic converters – remains high, while supply will decrease this year after Nornickel cut its production forecast.

Carlo Alberto De Casa – Chief analyst, ActivTrades

 

 All information has been prepared by ActivTrades (“AT”). The information does not contain a record of AT’s prices or an offer of or solicitation for a transaction in any financial instrument. No representation or warranty is given as to the accuracy or completeness of this information. Any material provided does not have regard to the specific investment objective and financial situation of any person who may receive it. Past performance is not a reliable indicator of futures performance. AT provides an execution-only service. Consequently, any person acting on the information provided does so at their own risk.