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 recovers after Friday losses
The Friday pullback hit the gold rally hard, but so far buyers have returned to push the price back towards $1280. This looks to be a buying opportunity, with a first target of $1290, and then on to $1295 and $1307.
A close below $1270 would suggest a fresh test of support at $1264.