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 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 shows no major rally signs
The price remains above $1200 but so far there is no sign of a real rally developing. A close above $1220 is needed to confirm real upward momentum is in play.
A move below $1200 still targets $1110. Gold’s fate is in the hands of the dollar, with a pullback for the greenback the best hope for a gold rally.