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 back around resistance area
Gold has managed to rally back into the $1265 region this morning, as the market continues its gradual ascent. The fall below $1260 added a greater risk of a pullback, yet an hourly close above $1265 would negate this.
The recent bullish turnaround may not have been the most exciting, yet it has been relatively consistent. As such, further upside seems likely, with a break through $1265 adding greater confidence to that move.