Gold awaits Spain's next move

As we mentioned in yesterday’s technical review the pound is continuing to trade today within a narrow trading range and it will need something special to make the price break out.

There are rumors spreading that the prime minister of Spain is going to take over the government in Catalonia as early as tomorrow as the latter has refused to cancel an attempt to become independent and break off from Spain.

Its pretty amazing that just on the rumors the gold price isn’t higher as if this event happens, it will throw the Eurozone into turmoil and you can be sure investors will be looking for safe haven assets.

It might be a good time to take a long position in gold before the market closes for the weekend in readiness for this big event.

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