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 buyers remain in control
Gold has moved higher this morning, as it continues to hold the rising daily trendline. A close above $1250 will suggest that we are in for another test of the $1270 - $1280 zone where momentum topped out so far this month.
The fact that the trendline held suggests buyers are still in control, so if the RSI can turn higher today the outlook moves back to being bullish.