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.       

Publication source
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January 19, 2017
U.S. reports revealed a hefty 0.8% December industrial production
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January 19, 2017
Yellen repeats Fed is close to meeting targets, USD up
The speech by the US central bank governor Janet Yellen did not offer any new insights on the attitude of FOMC, nor did it cause large shifts in the pricing of future rate hikes (even if now 3 rate hikes in 2017 look again more probable than only one, with 2 remaining the most expected outcome)...
January 19, 2017
Trump vs Yellen & Draghi vs Weidmann
The U.S. dollar has been on a roller-coaster this week. After dropping by more than 1% on Tuesday the dollar index recovered 0.9% from its lows...

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