Confirming you are not from the U.S. or the Philippines

By giving this statement, I explicitly declare and confirm that:
  • I am not a U.S. citizen or resident
  • I am not a resident of the Philippines
  • I do not directly or indirectly own more than 10% of shares/voting rights/interest of the U.S. residents and/or do not control U.S. citizens or residents by other means
  • I am not under the direct or indirect ownership of more than 10% of shares/voting rights/interest and/or under the control of U.S. citizen or resident exercised by other means
  • I am not affiliated with U.S. citizens or residents in terms of Section 1504(a) of FATCA
  • I am aware of my liability for making a false declaration.
For the purposes of this statement, all U.S. dependent countries and territories are equalled to the main territory of the USA. I accept full responsibility for the accuracy of this declaration and commit to personally address and resolve any claims or issues that may arise from a breach of this statement.
We are dedicated to your privacy and the security of your personal information. We only collect emails to provide special offers and important information about our products and services. By submitting your email address, you agree to receive such letters from us. If you want to unsubscribe or have any questions or concerns, write to our Customer Support.
Octa trading broker
Open trading account
Back

Gold jumps to 8-week high ahead of Brexit speech

Gold extended bullish break-out momentum above 50-day SMA hurdle and touched nearly 8-week high amid persistent worries over Brexit.

Currently trading around $1214 region, spot gained fresh traction on Tuesday and rose to the highest level since Nov. 23 amid prevalent risk-off mood ahead of the much awaited speech by UK Prime Minister Theresa May, where she is expected to unveil her plans for negotiating Britain's exit from the European Union.

Meanwhile, receding market expectations over prospects of stronger US economic growth, led by aggressive fiscal stimulus measures by the incoming Trump administration, is weighing heavily on the US Dollar and boosting demand for dollar-denominated commodities - like gold. 

Moreover, bearish sentiment surrounding European equity market is further lending support to traditional safe-haven assets and contributing to the strong bid tone surrounding the precious metal.

Tuesday's key focus would remain on May's speech on Brexit, which would drive market risk sentiment and provide fresh impetus for the yellow metal.

Technical levels to watch

A follow through momentum above $1215 level is likely to confront resistance near $1221 area (Nov. 22 high) above which the commodity seems all set to head towards its next hurdle near $1230 zone ahead of 100-day SMA resistance near $1240 region.

On the downside, $1205 level now becomes immediate support to defend, which if broken is likely to drag the metal back below $1200 handle, towards testing 50-day SMA resistance break, now turned support, near $1185-83 region.

 

 

Downing Street Office: UK PM to give Brexit speech at 11:45 GMT

Livesquawk reported latest announcement from the British PM office, with the 10 Downing Street headquarters noting that the UK PM Theresa May will del
Read more Previous

United Kingdom Retail Price Index (YoY) came in at 2.5%, above expectations (2.3%) in December

United Kingdom Retail Price Index (YoY) came in at 2.5%, above expectations (2.3%) in December
Read more Next