- MKS Group (based on CNBC)
The precious metal hovered in positive direction on Thursday, especially pricing in the "hawkish easing" from the ECB, which sent the Dollar strongly lower in the market. In the past two weeks we have seen more green candles appearing in the . It proclaims that an active phase of losses has probably come to an end, as markets are refocusing from the ECB to the Fed. We expect the bullion to trade predominantly sideways, unless either July low at 1,070 or 2010 low at 1,044 is breached. The mid-term projection, however, will continue carrying the bias.
After losing four percentage points in the past 24 hours, the portion of positions dipped down to 67% in the SWFX market.