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 heads lower
There has been little respite for gold bulls over the past couple of days, with a bounce yesterday simply bringing out fresh sellers.
All eyes are now on the $1257 area, where prices bounced in mid-June, and around the current 200-day simple moving average.
A break below here would head towards $1200 itself. Short-term, a rally would need to clear $1277, and then push on back to $1300.