| Videos | Channels | Search |
Trade idea: Long gold on no taper
Trader Anton Hughes from Magick.nu, is looking to long Gold following the Federal Reserve’s surprise decision not to taper on Wednesday.
Gold surged 4.1 percent on September 18 - the most in 15 months - as the US central bank said it wants more evidence of an economic recovery before slowing down its USD 85 billion-a-month asset purchase programme.
Anton says that the Fed caught markets “off-guard” and as a result commodity analysts expect even “stronger gold prices next week".
On the technical side, Hughes is looking to enter at USD 1,375 with a long position. He will take profit at USD 1,420 with a stop loss at USD 1,360.
Disclaimer
Saxo Bank Group provides an execution-only service. All information provided on Tradingfloor.com is solely for general information. Tradingfloor.com does not contain (and should not be construed as containing) financial, investment, tax or trading advice or advice of any sort offered, recommended or endorsed by Saxo Bank Group and should not be construed as a record of our trading prices, or as an offer, incentive or solicitation for the subscription, sale or purchase in any financial instrument. Saxo Bank Group will not be liable for any losses that you may sustain as a result of any investment decision made in reliance on information which is available as part of the Tradingfloor.com or as a result of the use of the Tradingfloor.com.
Please read our notification on
Non-independent investment research disclaimer
01:00 minutes
Tags: analyst, anton hughes, bond buying, bull market, commodities, dollar, economic recovery, fed, federal reserve, gold, markets, monetary policy, saxo tv, taper, technical, tradingfloor.com, us economy