Gold Price Analysis: XAU/USD eyes $1939 upside barrier amid US stimulus hopes – Confluence Detector

Gold Price Analysis: XAU/USD eyes $1939 upside barrier amid US stimulus hopes – Confluence Detector

Gold (XAU/USD) buyers are finally extending their control above $1900, rejoicing the renewed optimism over the US fiscal stimulus. The safe-haven US dollar wilts amid a risk-on market mood after US House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin moved closer to an agreement on a fresh coronavirus relief package late Tuesday.

Markets remain hopeful that the stimulus deal will be clinched ahead of the November election and the new funds will boost the demand for gold as an inflation hedge. The stimulus talks are likely to continue this Wednesday. Let’s take a look at how gold is positioned […]

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