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Gold Analysis: Close above $ 1200 – Key

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 9, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    XAU/USD (gold price in terms of USD) rallied nearly $ 35 to the highest levels since June 2015 and reversed the entire Fed rate hike backed slide seen during Oct - Dec. The bullion finally surpassed 1200 mark, hitting fresh eight-month high at 1200.92. Gold benefited from heightened risk-aversion on global growth concerns, which triggered sharp global equities sell-off and hence, investors ran for cover in the ultimate safe-haven, gold. Moreover, the recent negative interest rates policy

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