News and Market Analysis

New Highs For Gold. The Bulls are out or are they just about to run into a China shop?

What a start to the week. As if  gold wasn’t enough to keep us talking, we also have increasing tension between US and China. But lets start with gold. Today gold hit a record highs reaching a $1944.76 up almost 2%. After a week of positive results, and breaking the resistance levels of the old high of $1921.14 who would have thought it had more gas in the tank. But as the diplomatic ties between the US and China intensify and the corona virus pandemic takes its toll on the economy this has given the safe haven a refreshing boost for trader.

Looking at Things to look out for this week would be a further rally in gold with silver at its heals. USD struggling to find the rope and falling to new lows whilst its major competitors rally. More on what levels to look out for in our update.