Date: 12 Dec 2019
The gold price has rebounded while the US dollar weakened in the first few hours after the FOMC. After a long phase with very little volatility, investors are awaiting the price to breakthrough the key level of $1,475 in order to give bullion a more defined direction. Technically, the price remains in the lateral channel between $1,450 and $1,475 but with growing pressure on the upward edge. This confirms investors’ interest in bullion is returning on the day of the UK election and the meeting of the ECB.
Carlo Alberto De Casa – Chief analyst, ActivTrades
*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.