This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.
Gold showing signs of life
Gold is heading towards the key $1217 swing high, with the market showing signs of a resurgence following a period of downside. Should we see a break above that $1217 level, things would start looking more bullish for the near term.
Following a rebound from trendline support, there is a chance we could be looking at some form of near-term low. Thus, watch for the potential break through this swing high as a signal of a burgeoning period of upside for this beleaguered market.