Gold prices stabilising in a demand zone with a focus on the Fed.
COVID’s third wave in the US is spreading through states, troublesome for US economic growth and the US dollar.
The price of the yellow metal is holding the bid at the start of the week but has been pressured to an area of support in recent sessions.
At the time of writing, XAU/USD is trading at $1,888.83 between a low of $1,880.60 and a high of $1,891.82.Gold fell off a cliff last week, cracking the $1,900 level, on the news of a covid vaccine but has since established a demand zone in the low $1,880s.However, the recovery in real rates and USD continue to cap any material upside in gold. Eyes on the Fed The greenback is a major focus, especially as the rate of the second wave has covered all states of the US […]
November 16, 2020 Published by StockMan