Stock markets by storm. Against this background it comes repositioning in favor of safer assets. One traditionally is gold. At this stage, the market is clearly slowing global economy fears provoked by cooling in China. Furthermore, an additional factor that is putting pressure on risky assets in favor uncertainty regarding the timing of the rate hike US Federal Reserve. Plus geopolitical tensions in Korea and the situation is favorable to enter into a long position in gold trading.
In the area of gold 1151.09 level to form a support. In recent days, the metal was down repeatedly in his district, but to go and could not. Thus, the next test without any catalysts, supporting the dollar may again end rebound and eventually lead to more rapid growth.
|Gold trading chart|
Gold (XAU/USD) – buy gold – Entry price: 1151,09. Goal: 1168,16. Stop loss: 1141,08.
Warning: Profitability in the past does not mean profitability in the future. Any projections are for information only and does not guarantee a result.