US Treasury Secretary Steven Mnuchin’s comments yesterday about the need for a stable US dollar, has not led investors to change their view on yellow metal, and gold fever remains huge.
Bullion is getting closer to $1,900, while the only resistance left for gold is the historical peak of 2011, which is just 1% above the current price.
Technically the first support zone could be found at $1,880, while price is attacking the psychological level of $1,900. Investors are still buying every single dip and pulling up prices.
Carlo Alberto De Casa – Chief analyst, ActivTrades
Disclaimer: opinions are personal to the authors and do not reflect the opinions of LeapRate. This is not a trading advice.
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