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 has taken a less convincing shape today, as the fall below $1316 overnight negated the continued creation of higher highs and higher lows.
We look likely to have bottomed out on the real short-term and as such a move higher is expected for the beginning of today’s session. However, we will need to break back above $1327 to show that the rally is back on.