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Nov 19 - 07:55 AM

Gold - Russian Threat Could Drive Gold Much Higher

By Jeremy Boulton  —  Nov 19 - 05:45 AM
  • Putin issues warning to US with new nuclear doctrine nL8N3MQ0FT

  • Demand for safe assets outside of U.S. likely to rise

  • Gold jumps to $2634/oz compared last week's low at $2536/oz

  • Drop from Nov's record high laid foundations for bigger rise

  • Gold went from overbought to oversold and based close 100-DMA

  • Faster, bigger rise may result if gold climbs back over 55-DMA $2642

  • Traders pared fair number of bullish bets - less restraint on gold rising

  • The next target for the bull run is $3275/oz nL8N3ML121

  • Trump may need US to abandon strong dollar policy nL1N3MQ0AH

     

Source:
Refinitiv IFR Research/Market Commentary

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