This information has been prepared by IG, a trading name of IG Australia Pty 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 heading for another test of range top
Gold is pushing back to the top end of the trading range that has prevailed since the end of August.
Rallies to $1214 tend to run out of steam, so we will see if this one is any different. If it does turn lower then the mid-range $1195 level and then the $1190 area come in as support. A breakout from $1214 or $1190 is needed to suggest the beginning of a wider move.
.jpg)
