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 on a precipice
Gold is at risk of pushing lower, having created a new lower high off the downtrend from the July peak. The next target on the downside would be $1305, with a move below here creating a new lower low that could indicate the beginning of sustained weakness. A bounce needs to clear $1350 to open the way to the July high at $1375.