Daily Alert – Wednesday 10th June 2020: GOLD biggest mover as Goldman Sachs reiterate USD1800/oz forecast

Mark NugentDaily Alert, June 2020

Daily Alert – Wednesday 10th June 2020: GOLD biggest mover as Goldman Sachs reiterate USD1800/oz forecast

The markets are relatively calm before tonight’s Fed.

GOLD is the biggest mover as Goldman Sachs reiterate their price forecast of USD1800/oz on a 12-month basis.

Equity indices show little movement.

In terms of currencies, we see coherence between the weekly and daily movement on the USD, GBP, EUR and JPY charts. What I mean by this is that the weekly move so far has been consistently reflected in the daily chart, without any choppiness. This makes trading considerably easier, although so far moves have been modest.

Tonight I will be reviewing risk-sentiment and the outcome from the Fed meeting at 7pm BST. If there’s anything of note I will report it via WhatsApp.

VIP Club members can watch the video HERE