Gold with a solid start of the week - whats next

Gold Weekly



Gold shines against the background of low risk sentiment in the markets

The gold march continues unceasingly, with fundamental factors preventing price corrections and the precious metal is moving swiftly north.

The situation in Argentina and Hong Kong is also not much help to risk sentiment, and this gives additional confidence to buyers of precious metal to push prices up this week.

For me, the only thing buyers have to do is keep over $ 1,500 and that, in my opinion, would be a sufficient prerequisite for an even bigger raise.

Because if you look at the chart, there are not many obstacles on the way to $ 1,600. Moreover, when we consider the trade tensions between the US China (not to forget the slowdown in the global economy), as well as the central banks and all the noise about their monetary policies.

In my opinion, if we see positive developments in trade rhetoric, we will also be able to alleviate investor uncertainty and adjust for gold.

But as has happened many times in the past, expect the US - China to disappoint investors and this will be reflected in gold prices and the "big picture".

 Trader Aleksandar Kumanov

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