Will Gold Hold Above $1,450? [Video]
|Gold continues to remains resilient in the face of risk-on sentiment this week.
Expectations for an imminent closure to the long-drawn trade dispute between the U.S and China is keeping gold prices trading within a tight range. In fact, since November 25 – every day, gold prices have been winding tighter and tighter. This ultimately indicates a big move is on the horizon. The only question now, is which way.
Whilst risk-on sentiment will continue to weigh on prices in the short-term, the fundamental backdrop for gold remains extremely bullish in the long-term. My advice this week – is to say nimble, trade the range and routinely take profits off the table!
Where are prices heading next?
Watch The Commodity Report now, for my latest price forecasts and predictions.
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