Gold staged a solid rebound in US trade, with traders pointing to USD weakness
Chris Weston
Pepperstone
Gold staged a solid rebound in US trade, with traders pointing to USD weakness. The 30-day correlation is still fairly low at 44%, someway below the 73% correlation we saw back in late October, however as we saw USD weakness overnight gold started moving higher. The downtrend drawn from the October 29 high has now been broken, while we've also seen a higher high, with the metal breaking above the recent consolidation. The fact US bond yields fell also supported price action.
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Highly accomplished financial markets professional, with experience at a number of top-tier global institutions on both the buy and sell-side. A natural communicator with a strong ability to analyse macro-economic trends, capital flows and market price action and advise on actionable trade ideas and investments in multiple asset classes.
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Chris Weston
Head of Research
Pepperstone
Highly accomplished financial markets professional, with experience at a number of top-tier global institutions on both the buy and sell-side. A natural communicator with a strong ability to analyse macro-economic trends, capital flows and market...
Expertise
Chris Weston
Head of Research
Pepperstone
Highly accomplished financial markets professional, with experience at a number of top-tier global institutions on both the buy and sell-side. A natural communicator with a strong ability to analyse macro-economic trends, capital flows and market...
Expertise
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