01.12.2014 7:07 XAUUSD
GOLD: under pressure after a referendum held in Switzerland
Buy on rebound from 1131 level with 1178 target. Stop loss = 1110.
Reason for the trading strategy
Gold prices fell sharply after the referendum held in Switzerland. The Swiss felt that the national regulator should not increase the minimum share of gold to 20% in their reserves. In the short term, the precious metal risks testing the support level of $ 1131.
GOLD, H4
02.12.2014 8:08 XAUUSD
The gold prices have recovered to $ 1,200 after yesterday’s fall
Buy on a level breakthrough of 1220 with 1255 target. Stop loss = 1190.
Reason for the trading strategy
After yesterday’s fall, the gold prices have recovered to $ 1,200. The November decline in the business activity index in the US manufacturing sector from 59.0 p. to 58.7 has provided some support for gold. In the short term, we do not exclude the possibility of the precious metal testing the $1255 mark.
GOLD, H4
