Gold is often called a safe investment, as its value typically remains stable. The price of gold, however, can be affected by a number of factors including global economic conditions and political instability. Gold is traded on the commodities market and its price is quoted in U.S. dollars per troy ounce.
The spot price for gold is determined by supply and demand dynamics in the market, with investors buying and selling gold to try to capture profits. The London Bullion Market Association (LBMA) sets the benchmark rate for unallocated gold every day at 11:00 am GMT+1
- Bespoke support is located at 1920
- Intraday signals are mildly bullish
- We look for a temporary move lower
- Dip buying offers good risk/reward