There's a good chance we get a bounce in gold, as trader's hedge against geo-political risks stemming from increased tensions in the Ukraine

Chris Weston

Pepperstone

There's a good chance we get a bounce in gold, as trader's hedge against geo-political risks stemming from increased tensions in the Ukraine. The chances of civil war in Ukraine seems to have increased and the authorities in the Ukraine have given pro-Russian separatists until 15:00 AEST to lay down arms. An emergency UN meeting has been called (expected to start at 10:00 AEST) and hopefully the meeting can help find a solution to the tensions, however the prospect of traders buying gold to hedge against any risks are high. Resistance is seen at $1321 (the 38.2% retracement of the March to April sell-off) and a close above here could see gold trade to $1350.


1 topic

Chris Weston
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.

Comments

Sign In or Join Free to comment