Vi bruker en rekke cookies for å forsikre oss om at du får den beste brukeropplevelsen. Ved kontinuerlig bruk av denne nettsiden, godtar du bruken vår av cookies. Du kan lese mer om policyen vår for cookies her, eller ved å følge linken nederst på alle sidene på nettstedet vårt.
Gold drifting lower from major resistance
Gold managed to break into a near 12-month high yesterday, following yet another nuclear test from North Korea. However, with the price having only fleetingly traded above the major $1337, November 2017 high, the weakness we are currently seeing provides us with a potential short-term period of downside. The $1332 area gives us a clear support level that would lead to a period of weakness. With the price currently moving below that level, there is a good chance we could see further downside from here.
However, it seems risky to short gold of late, given the potential for a North Korea fueled flight to safety at any moment. As such, further short-term downside would be perceived as a buying opportunity rather than something to sell into.