Market Analysis

Gold remains in a positive technical environment

The euro is on the back foot during early Friday trading, losing ground to all the safe haven currencies as the mood in the markets drifted towards risk aversion and the focus of investors shifted from the reopening of economies to the escalation in US-China tensions. After China announced a new stricter security law in Hong Kong, the US responded by threatening to react very strongly against any changes. The reignition of tensions between the two economic powerhouses is bad news for the prospects of a world economy already battered by the coronavirus and is likely to increase the flow towards refuge assets, such as the Japanese yen and the Swiss franc.
Ricardo Evangelista – Senior Analyst, ActivTrades

source: ActivTrader


Gold remains in a positive technical environment, despite price declines seen yesterday. Evidence of resilience in bullion markets has been seen this morning, with a good number of investors prepared to buy into dips and seemingly not worried by price corrections. Technically, spot prices have fallen in the intraday trading below the support zone of $1,725, before recovering in the last few hours. The early trading of today seems to be confirming that the support level is still valid, after yesterday’s test.
Carlo Alberto De Casa – Chief analyst, ActivTrades

source: ActivTrader


The information provided does not constitute investment research. The material has not been prepared in accordance with the legal requirements designed to promote the independence of investment research and as such is to be considered to be a marketing communication. All information has been prepared by ActivTrades PLC (“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.