Final days of the year quite successfully added to the precious metals market. In particular, gold is only in the last three sessions has increased by 1.7%, adding about $ 25, and again test resistance of $ 1500. In the Asian session Thursday, the price of one ounce of gold has reached $ 1503.
Continue to promote the growth of quotations of the statements of US President Donald Trump that a trade agreement with China is in the final stages and the parties involved in the preparation and registration of necessary documents. Investors continue to meet every optimistic statement regarding this subject, in the hope of legal registration of the transaction at the beginning of next year. It is worth noting that gold is one of the few assets that can win whatever the outcome of the US trade war and China. If the conflict escalates, gold will support its properties as a safe asset.
In the event that all the countries will manage to sign a trade agreement, a further recovery of the global economy will lead to a higher appetite for industrial metals. Additional support for gold prices continue to Fed intervention under the pretext of urgent repo auction in the amount of $ 60 billion. Before the expiry of the January futures on the USD Index is scheduled for another 5 such auctions, which will undoubtedly lead to increased liquidity and the continuing growth of precious metals. Taking this into account, XAUUSD has all the chances to keep the upward momentum until the end of 2019.
XAUUSD BuyLimit 1500 TP 1550 SL 1488
Analytical reviews and comments reflect the personal opinion of the authors and are not a recommendation to trade. Author Artem Deev trader analyst AMarkets. Traders community is not responsible for any losses in the case of the review of materials
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