The price of gold continues to grow steadily. Inventories of the world's largest exchange-traded fund SPDR Gold Trust on Monday showed greatest inflow per month - 7.50 tons and reached a level of 812.70 tons. The price has broken through the strong resistance level and continues an upward inside the rising channel.
Among the reasons for the growth of demand for gold remain doubts about the continued growth on the stock markets, a slowdown in growth of China's economy and rising tensions in Crimea.
We maintain our positive medium and long term outlook for gold. Closest target will be 1370 dollars per troy ounce.
Wish you the profits!
FXFINPRO Capital Analytical department.