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 retraces after break higher
The push higher for gold in recent days has seen a modest pullback, down to the $1286 area, but this is unlikely to last. A move below $1285 would suggest that the rally is weakening.
There is a test of $1276 support possible, but further bullish momentum should see the commodity challenge yesterday’s high at $1294, and then move higher.