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Why we'll be testing gold's upside
The Fed’s Ben Bernanke says he doesn’t understand why gold prices move the way they do. What everyone understands is that gold has stabilized over the past few weeks, hovering just below $1,300 /ounce.
Nana Dahlerup is Saxo Bank’s Deputy Global Head of FX Spot, Forward and Options. She says gold is very sensitive to any talk about QE and that's why we've had such a bounce in ranges over the past few weeks. Nana says we could be testing the upside over the next few days.
One of many factors weighing on price is of course supply. Many mining companies’ margins have been cut since gold came close to $2,000 an ounce only a few months ago. If that means some mining companies stop production or even stop business altogether, constricted supply could give support to the gold price in the longer term.
01:09 minutes
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