Gold Daily Video, 09 June, 2016

[Sive Morten]

Good morning,

Gold has met our 1264 resistance. In short-term probably some retracement will happen, but we need more information to understand longer perspective:




The technical portion of Sive's analysis owes a great deal to Joe DiNapoli's methods, and uses a number of Joe's proprietary indicators. Please note that Sive's analysis is his own view of the market and is not endorsed by Joe DiNapoli or any related companies.

 

[leo4fx]

Sive what are your thoughts on the brexit outcome for gold ?

 

[Sive Morten]

Sive what are your thoughts on the brexit outcome for gold ?

Very difficult to say. Logically some demand for safe haveng should be, at least in short term. Because it is obvious now - market is nervous, more signs of voting uncertainty have appeared and currently it is not as cloudless as it was 1-2 weeks ago.
But, USD is also treated as safe-haven... thus, who will prevail - very difficult to say right now... May be even Brexit will have limited impact on Gold/USD, and major impact will happen on Gold/EUR...

 

[Sive Morten]

Sive what are your thoughts on the brexit outcome for gold ?

here, is for example. From today daily update

"Last week's unexpectedly weak U.S. jobs data and subsequent cautious tone by Yellen opened the door for gold to resume its bull cycle. A Brexit could see gold push towards $1,400 an ounce," ANZ analyst Daniel Hynes said in a note."