Gold’s ongoing consolidation between the 100- and 50-day moving averages is healthy, as it will ease some of the persistent concerns on positioning and create room for further gains, according to UBS analysts. Key points Gold traders should watch out for the US economic data, the US-China trade-related newsflow and the resulting impact on the Federal Reserve’s monetary policy. Uncertainty is likely to persist, forcing the central banks to keep rates low. Gold can trade through $1,600 in 2020 and $1,550 over the next three months. The yellow metal is currently trading at $1,460, representing nearly 14% gains on a year-to-date basis, having hit a high of $1,557 on Sept. 4. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next USD/JPY Technical Analysis: Doji on D1, 200-day SMA question buyers FX Street 3 years Gold's ongoing consolidation between the 100- and 50-day moving averages is healthy, as it will ease some of the persistent concerns on positioning and create room for further gains, according to UBS analysts. Key points Gold traders should watch out for the US economic data, the US-China trade-related newsflow and the resulting impact on the Federal Reserve's monetary policy. Uncertainty is likely to persist, forcing the central banks to keep rates low. Gold can trade through $1,600 in 2020 and $1,550 over the next three months. The yellow metal is currently trading at $1,460, representing nearly… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
