🚀 AI-picked stocks soar in May. PRFT is +55%—in just 16 days! Don’t miss June’s top picks.Unlock full list

Gold Following Platinum Lower

Published 20/07/2015, 15:26
DX
-
GC
-
PL
-

Darren Sinden, Market Commentator at Admiral Markets, explains the correlation of Gold prices with other precious metals, Asia dollar index and Chinese inflation, and further maintains a bearish outlook for Gold.

Key points from the video:

Gold following Platinum lower

Inflation story puffed Gold up, time to burst?

Asian dollar index driving Gold in the near-term.

Is gold a proxy for Chinese inflation or the lack of it?

Why isn’t gold higher even when it’s a safe haven? Is it losing its sheen?

Platinum: More downside ahead

Sinden looks at the technical charts and sees Platinum trapped in a downtrend. Looking at the monthly charts, the precious metal has broken below the psychological support at $1000/ounce for the first time since 2008.

Platinum and Gold share a very close correlation, explains Sinden. Platinum looks set to test the late 2008 lows at $800/ounce. The price action also favours further downside in Gold prices, with the yellow metal having dipped lower to new 5-year lows.

Original Post

Latest comments

Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.