Gold is again over $ 1500. Or at least the bulls are trying hard to keep the gold above that level. We have short-term consolidation around the new peaks and the area in the red, and for the moment it is proving strong. Today’s risk-off sentiment has forced investors to again resort to more defensive assets such as gold, and it has again raised its head over $ 1,500. On Friday, the feeling is that there is a recourse to safe heaven assets, with price action also trying to confirm it. Traders, however, are closely monitoring the stock and bond markets to determine whether it is worth pushing gold for a new high, or at least closing in green today, over $ 1,500.
Trader Martin Nikolov