Gold settles around $1,550
Safe haven gold has found some stability towards the back end of the week around $1,550, not far from the levels we were trading at around at the start of the year. Gold will remain susceptible to safe haven dashes, although the tragic airliner accident may force people to reconsider their actions and encourage a sustained de-escalation.
The dollar has rebounded over the course of this week which may keep the downward pressure on the yellow metal although it’s worth remembering that prior to the events of the last week, the dollar was coming under a little pressure and supporting gold. It will be interesting to see whether that continues going forward.
Safe haven gold has found some stability towards the back end of the week around $1,550, not far from the levels we were trading at around at the start of the year. Gold will remain susceptible to safe haven dashes, although the tragic airliner accident may force people to reconsider their actions and encourage a sustained de-escalation.
The dollar has rebounded over the course of this week which may keep the downward pressure on the yellow metal although it’s worth remembering that prior to the events of the last week, the dollar was coming under a little pressure and supporting gold. It will be interesting to see whether that continues going forward.
Gold Daily Chart
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