The information 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 Bank S.A. 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 and as such is considered to be a marketing communication.
Gold continues its climb
Unsurprisingly gold continues its ascent, moving in a straight line yesterday and hitting $1100 in early trade today. The 50-hour simple moving average ($1084) provided good support early on Wednesday, so a dip today towards this level could provide another buying opportunity.
The daily relative strength index (RSI) and stochastics are beginning to look overextended, but a continued move higher heads towards $1108 and then $1120.