This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material 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. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.
Gold turns lower from trendline resistance
Gold is breaking higher following a period of consolidation to start the week. Surprisingly, the risk-off mode seen in the wake of the Italian political developments has been slow to come into play for gold, yet we are seemingly seeing that emerge now.
Watch out for whether we can see the price break through trendline resistance, beyond which we have the $1308 swing high to contend with. A break above those would provide a greater confidence to the bullish view.
.jpg)
