GOLD: consolidation above the level 1189

October 15, 2015

Buy on a level breakthrough of 1189 with 1205 target. Stop loss = 1179.

Reason for the trading strategy

 Yesterday's US macroeconomic statistics put pressure on the profitability of the US government bonds and supported the demand for gold. On the level breakthrough of $1189, opening the next set of long positions in gold is worth considering.       

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