"Saturday’s attack on Saudi oil fields knocked out about half that country’s oil production."
That's the major news first thing in the morning and we have seen the gold jumped as well as oil, yen, Swiss franc and cad.
The gold price was trading within a range since early August and the price has came back to this month low and was well supported at a demand zone.
The price was actually at the end of a 3-month rising channel at the bottom.
The last daily candle was a bearish one but still showed support and this morning without any sign, the price opened with a gap of 180 pips higher.
The Dow Jones has also broken below a rising structure and that supports the gold to climb further.
Trading plan for gold? Just buy. The technical setup this morning is favourable enough for the gold.
The fundamental movement of the gold hasn't changed either.
That's the major news first thing in the morning and we have seen the gold jumped as well as oil, yen, Swiss franc and cad.
The gold price was trading within a range since early August and the price has came back to this month low and was well supported at a demand zone.
The price was actually at the end of a 3-month rising channel at the bottom.
The last daily candle was a bearish one but still showed support and this morning without any sign, the price opened with a gap of 180 pips higher.
The Dow Jones has also broken below a rising structure and that supports the gold to climb further.
Trading plan for gold? Just buy. The technical setup this morning is favourable enough for the gold.
The fundamental movement of the gold hasn't changed either.
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