HelenRush

Gold Breakout of $1,300 Just a Matter of Time

TVC:GOLD   CFDs on Gold (US$ / OZ)
Gold             has gained 2.5% during the last month touching $1,300.77 high last Friday - the level not seen since November, 2016. But will it have courage to move further?
There are all the chances to see the breakout if some conditions are met. First, we don’t need strong USD. The lower the chances of a more aggressive monetary policy tightening from the Fed, the better for yellow metal.
Second, low inflation globally. The weaker the price pressure all over the world, and especially in the US, the stronger arguments for gold             buying. Right now Euro             zone, and US CPI             is staying below the 2% target level, and UK CPI             has slowed down to 2.6% from 2.9% in June.
Third, geopolitics. North Korea issue is still on the table, and every time we see tensions escalation, risk-off sentiment will be triggering the demand on gold             .
And the last, but not the least. Recently, gold             ETF’s has shown a modest build, and large investors are favoring gold             once again. And it’s a good sign of market sentiment changes.
Thus, the breakout of $1,300 may be just a matter of time, and once the deal is done, it opens the way to next strong resistance area around $1,300.
You also predict the EUR to go up so if buying in EUR what would be best, buying now before the GOLD-USD goes up or later when the EUR goes up?
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