Mohammed Abdullah Posted January 29, 2020 Share Posted January 29, 2020 With Gold being at the top of a range/channel, does anyone think it is due for a big sell off? possibly down to the 1400 level? Quote Link to comment Share on other sites More sharing options...
0 Sam Farrah Posted January 29, 2020 Share Posted January 29, 2020 Mohammed, I wouldn't necessarily agree that it is due for a sell off. I think the current risks in the market will keep gold prices elevated. There seems to be risks from all angles at the moment, even if they aren't at the forefront of media reports. I would point to the coronavirus as the main worry right now, and even if a vaccination is created or the spread is contained and reduced, I would then look at the slowdown in the Chinese economy as another risk to markets. We then of course have the trade war and phase 2 negotiations, Iran and the US potential conflict and the massive amounts of debt in the global economy. Now, Im not saying there will be a crazy selloff and we will plunge into a recession. However, I think the current risks are enough to keep gold elevated, for now. 1 Quote Link to comment Share on other sites More sharing options...
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Mohammed Abdullah
With Gold being at the top of a range/channel, does anyone think it is due for a big sell off? possibly down to the 1400 level?
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