Today's data on the US economy disappointed, with gold after rebounding at $ 1400 already up by about $ 16 dollars. However, the price remains within the framework of consolidation, despite today's rise to the upper levels in the area around $ 1422-23, where we have a resistance zone. The range is still intact.
The market is currently trying to weigh whether we will see a reduction in interest rates from the point of view of "insurance" on the part of the Fed. Or the other option - a new global cycle of global monetary loosening by central banks, and it will cut bonds almost to zero or below it even in the near future.
One of the more interesting news from today is the railway company CSX. They believe that there is an economic slowdown, at a time of very different signals from the economy, and at the same time, the company reduces its revenue forecast. Often companies, especially those in the transport sector, have "some other idea" about what is going to happen.
There is also the fear that the next news from the China-US front will be rather negative. Here the gold will have to endure until we see a breakthrough in the bullish flag or its spoilage.
Read more:
25 Canada Square, Level 33, office 50, Canary Wharf London, E14 5LQ +44 20 3608 6256
World Financial Markets - 0700 17 600 Varchev Exchange - 0700 115 44
Varchev Finance Ltd is registered in the FCA (FINANCIAL CONDUCT AUTHORITY) with a passport in the United Kingdom: FCA, United Kingdom - registration number: 494 045, which allows provision of financial services in the United Kingdom.
Varchev Finance Ltd strictly comply with the statutes of the European directive MiFID (Markets in Financial Instruments). targeting increased efficiency, transparency and uniformity of financial instruments.
Varchev Finance Ltd is authorized and regulated by the Financial Supervision Commission - Sofia, Bulgaria: License number RG-03-02-05 / 15.03.2006
The information on this site is not intended for distribution or use by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Disclaimer:
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63,41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.