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Gold Rises on US Shutdown Concerns

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Gold futures may rebound to $1,425 an ounce in the fourth quarter after forming a “double bottom,” according to technical analysis by Logic Advisors.

Yesterday, gold had the biggest gain in almost two weeks on speculation that the Federal Reserve will delay reducing monetary stimulus amid the first U.S. government shutdown in 17 years. The price has dropped 21 percent this year, tumbling into a bear market in April, as U.S. equities rose to a record and inflation remained moderate, eroding the appeal of the metal as a store of value.

via Bloomberg

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza

@alfonso_forex

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