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 – expect more gains
A bounce from $1300 provides the entry point for fresh longs on gold, with a view to seeing the uptrend resume. The bullish breakout of $1300 has been followed by a retracement, creating a new higher low.
Further gains should be expected from here, with only a move below $1295 putting a dent in the bullish outlook.