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Precious metals rally resume but resistance lurking: Hansen
Precious metals continue to receive investment demand according to Saxo Bank head of commodity strategy Ole Hansen. He says that this is being caused by dovish signals from central banks and a weak dollar. Also, the progress in the auto industry and low gasoline prices create an underlying investment demand.
The market is looking for a correction but for now it seems to be consolidating. Hansen believes that the market is getting closer to heavy resistance.
02:31 minutes
Tags: commodities, dollar index, gold, ole hansen, palladium, platinum, precious metals, saxo bank, saxo tv, silver, tradingfloor.com, xauusd
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