Still Holding for the Sale of Gold

Still Holding for the Sale of Gold

Still holding for the sale of gold.

With the stronger US Dollar and rising US Treasury yields these both put pressure on gold prices, we still believe Gold could still be heading down for the price to touch the 1150 mark.

1150 still looks to be a strong area of Buyers to get in on the sale of gold and buy cheap and take price back up.

Even with a sale of gold, the commodity is still an investment, seen as a safe asset.

For the time being, price has been stuck at around the 1200 price area, and could still contain sellers waiting to drive price further down.

While we wait and keep hold of this trade, we’ll keep an eye on US Dollar and economic data as these could have a major influence on gold price.

sale of gold

(Our trading and image was done using an account with UK based broker IG)

*Please Note, Forex and other forms of trading carry a high level of risk to your capital as you could lose all of your investment. These products may not be suitable for every investor, therefore ensure you understand the risks and seek independent advice. Invest only what you can afford to lose. We are NOT financial advisers and we do NOT offer financial advice. 


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