Money on gold that goes back to being bought. It is not a positive sign

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It was not a black Monday for Piazza Affari and for the European stock exchanges. The closure of the largest index in the Italian price list can have more than one positive reading, even if the data is negative. Let’s see what factors played in favor of one substantial stability of the Italian stock exchange and if you can grasp elements of optimism in perspective for the next sessions.

Piazza Affari staggers but keeps afloat

Money on gold that goes back to being bought. It is not a positive sign. L’index Ftse Mib ended the first session of the week down 1%. It is a more contained drop than the German index, which sold more than 2%. And it could have been worse considering that the morning trend was very negative. Business Square opened heavily, only to recover around 12.00. Since then, the index has pulled the oars in the boat and has moved sideways around 15,500 points until the end of the session.

And this is the other positive aspect, which the index continues to keep above the threshold of 15 thousand points. It is essential that this octave, which will be interlocutory, closes with the Ftse Mib Index above 15 thousand points. Fundamental premise so that in the following weeks, it can attempt to overcome the 16 thousand and return to 18 thousand points.

Money on gold that goes back to being bought

If we want to find another positive starting point, we can identify it in the scarce influence that at this moment the American stock exchange has on our list. Wall Street opened once again in negative and when the Milan Stock Exchange closed, the two main US indices, S & P500 & Dow Jones Industrial, reported losses of around 3%. It is not a good sign and what you are probably experiencing Goldman Sachs analysts have predicted in one analysis, that is that Wall Street still has margins of descent of 10-15% from today’s values.

Until the US stock market rebounds, it will be impossible for European and Milan stock exchanges to imagine a substantial rebound. And for now the American list seems to only want to go down. The return of gold purchases up 5% and back above $ 1,500 is not an encouraging sign. L’gold is a safe haven par excellence and if you buy gold, it means that you imagine further storm on the markets.

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