Gold awaits Syria strategy from US

Before the US Congress has an opportunity to discuss its views over intervention in Syria, gold is unlikely to stray too far from its current levels.

Having worked so hard to break above both the 50 and 100 day moving averages, the bulls would be disappointed if they were to give up this ground before a US congressional resolution to the turmoil in the Middle East. For the short term at least, supply and demand are probably not the major driving forces behind a move for the precious metal; instead those are fear and the flight to security.

Some traders will be heartened to remember that the last time gold tried to break through the resistance of the $1400 level it then charged up to and beyond the $1900 level. The biggest difference to consider is the general perception of risk and the fact that the markets are becoming a more blasé towards negative news as it becomes increasingly regular.

There has been a shift in the buying of US futures which have risen by 0.6%, while the percentage of selling has shrunk by 8.6%. This may be an indication that higher gold levels will be hit.

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CFD’s zijn complexe instrumenten en brengen vanwege het hefboomeffect een hoog risico mee van snel oplopende verliezen. 79% van de retailbeleggers lijdt verlies op de handel in CFD’s met deze aanbieder.
Het is belangrijk dat u goed begrijpt hoe CFD's werken en dat u nagaat of u zich het hoge risico op verlies kunt permitteren.
CFD’s zijn complexe instrumenten en brengen vanwege het hefboomeffect een hoog risico mee van snel oplopende verliezen.