Gold Gains Ground As Global Markets Remain Subdued
Gold futures ticked higher Monday amid declines in global stock markets and fresh concerns over Brexit stemming from U.K. Prime Minister Theresa May this Tuesday.
U.S. stock futures eased in holiday-thinned trading. Dow Jones Industrial Average futures lost 0.26%, while S&P 500 futures dropped 0.26% while Nasdaq 100 futures slipped 0.18%. Regular trading for U.S. financial markets is closed in observance of the Martin Luther King Jr. holiday and will reopen on Tuesday with increasing nervousness ahead of Friday’s inauguration speech from President-elect Donald Trump.
As a result, perceived safe-haven assets such as gold inched higher. Gold futures for February contracts added nearly 0.6% to trade at $1203.30 an ounce.
Buy Stop at 1204.00, Take profit at 1210.00 Stop loss at 1200.00