KQMarkets

Gold - Upward Momentum

Long
FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
Gold continues to rise after it consolidated back above long term support above $1560 back in March on the back of FED rate cuts and the continued uncertainty and impact on the global economy of the coronavirus. Additionally, it is the safe haven of choice for investors and we expect it to also rise further due to the renewed trade war tensions between the US and China.