Gold - Long - FED next Wednesday!

26 Tem 2019We are currently long Gold and would not want to see the commodity fall below the $1400 psychological level towards the $1382 Fibonacci level. With the forecasted FED 25bps rate cut next week we expect Gold to continue it's upward trajectory towards the $1452 Fibonacci level. We therefore maintain our long position as long as there is no major shift in the FED narrative regarding interest rates in the near future.