Gold is back in green today to continue its unusual direct correlation with stocks, which are also gaining amid a positive environment for shares. This follows both asset classes, which typically are inversely correlated, falling yesterday. Technically we are still in a bullish scenario, with the gold price not being boosted by the risk scenario but from the awareness that central banks are going to be forced to print a huge quantity of liquidity in the next months, and probably years too.
For the spot price, the zone $1,700-$1,710 has now become a first support area, while a climb above $1,730 could open space for further rallies and new records.
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