Gold is edging closer to the first resistance level at $1,850, thanks to a weakening dollar. A clear climb above this threshold could open space for further recoveries, but so far the general risk-on mood on stock markets is pushing investors to buy riskier assets, hoping for quick profits. Despite some signs of an economic rebound, US labour data showed once again that it will take a long time to achieve a full recovery. This would probably force central banks into further stimulus, which would weaken the greenback again and increase investor appetite for bullion.
