The information 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 Bank S.A. 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 and as such is considered to be a marketing communication.
Gold breaks trendline
Gold has managed to break the descending trendline from the February high, and is now consolidating.
A move back below $1326 would be potentially bearish, although sellers would need a loss of $1320 to really indicate the downtrend has returned. Above $1337, the price targets $1346 and then $1358.