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 could see $1119
Once again gold has rallied off its lows, but having moved higher it may now become a target for fresh selling. A failure to move on above $1142 could see a turn lower, targeting the key level of $1127 before heading on to $1119.
If it does break $1142 then the price could target $1156. Any further rally really needs a shift in the US dollar strength that has dominated since the election and intensified following the Federal Reserve meeting last week.