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Why gold is exposed to a correction
Gold has fallen again this Wednesday and it could easily correct by another twenty dollars over the coming few weeks. That's according to Saxo Bank's Head of Commodity Strategy, Ole Hansen. He says the risk premium associated with the Ukraine crisis is starting to fade. However, the situation is far from resolved so traders need to be on their toes.
Enough uncertainty remains, says Ole, for gold to maintain a level of support above USD 1,325 / oz. However, any heating up of the geo-political situation could quickly stimulate demand for gold. Here, he gives his advice on how best to trade the precious metal.
01:57 minutes
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