Gold is consolidating after Friday afternoon’s sharp rally with investors waiting for new market movers. Although this could be a crucial week for Brexit, this does not seem to be an important issue for bullion with news from central banks and US politics much more likely to trigger movements. We are in a wait and see scenario, as investors try to understand what is going to happen in early November with the US election and the subsequent reaction of both stocks and currency markets.
Technically gold is regaining strength with the consolidation above $1,920 a supportive signal for bullion and confirming traders’ huge interest.
