The ascent continues
Gold has continued to climb towards our previous targets and the $1,300 range is still in sight but could be slowed down before it reaches there around $1,060/70 an ounce today/tomorrow. It needs to set itself up for another move forward before those higher figures are justified.
Our oil view is still positive and could even touch the $107 resistance in the coming weeks, perhaps US winter.
Rand monthly shows us some interesting levels again down to 6.35 if the momentum continues. USD upside is not impossible, we watching that closely. The BOE just released their rate decision and it stayed at 0.50%, currently sterling is selling, USD strength (5 mins after release). Rand has shown a short in the past few minutes too on hourly.
Our risk indicator has been eventually updated today and has come down from a very high risk level above -220. Currently it’s standing at -213 from -214 on Tuesday. Volatility has been very high in it the past week.
The Rand Report team