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 looks like it may struggle
Having spent the past three days stuck between $1100 and then $1095, the price is now heading towards the bottom end of the range. Thursday’s lows around $1094/$1095 may provide some support, otherwise we are looking at a move back towards $1085 and then $1080. With risk appetite back in action gold may struggle, but a move above $1105 would target the January highs at $1110.