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 set for a small bounce
Intraday oversold conditions suggest that a near-term rebound is at hand for gold, but as so often since the end of August it may well fizzle out below $1215.
A break back below $1195 brings to an end the higher lows seen since the end of last week, and would bring $1180 support back into play.