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The Italian referendum is on deck with gold prices trading moderately higher into the weekend. However, one forex analyst doesn’t expect the Italian vote on Sunday to do much to push gold prices higher. ‘If you look at the gold chart, it’s down 10% the month and hardly even a bounce into the referendum,’ Adam Button, CEO of ForexLive, told Kitco News Friday. ‘What the market is saying is that it might be a big deal down the line but it won’t be on Monday.’ February Comex gold futures moved higher after the release of positive jobs data Friday, last trading up 0.65% at $1177 an ounce. Button is more optimistic on the U.S. dollar, which has rallied significantly since the U.S. election. ‘It’s seen such a remarkable rally since the election, nobody really saw it coming and the rallies that tend to last the longest are the ones nobody really believes in,’ he said. ‘For now, why quit buying the dollar? Nothing’s changed in that trade and I think the path is higher from here.’



Please do your own due diligence before making any investment decision. This article should not serve as investment advice. This post is mainly as reference and tutorial for trading on possible cryptocurrency breakout.

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