Spot gold is on an upwards trajectory and given it has closed above the 38.2% retracement of the October to December sell-off (at $1250.9), the metal could be...

Chris Weston

Pepperstone

Spot gold is on an upwards trajectory and given it has closed above the 38.2% retracement of the October to December sell-off (at $1250.9), the metal could be headed to $1272 or even the 100-day moving average at $1290. In late US trade we get narrative from regional Fed presidents Charles Plosser (speaks at 04:45 AEST) and Richard Fisher (05:20 AEST). The narrative from these two individuals will be important as this year they get a chance to vote. If they detail that the recent weak payrolls report was a 'one-off' and that QE should be terminated sooner-rather-than-later we could see USD strength and gold weakness.


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...

I would like to

Only to be used for sending genuine email enquiries to the Contributor. Livewire Markets Pty Ltd reserves its right to take any legal or other appropriate action in relation to misuse of this service.

Personal Information Collection Statement
Your personal information will be passed to the Contributor and/or its authorised service provider to assist the Contributor to contact you about your investment enquiry. They are required not to use your information for any other purpose. Our privacy policy explains how we store personal information and how you may access, correct or complain about the handling of personal information.