Gold Price Analysis: XAU/USD pushed and pulled in jittery market conditions

Gold Price Analysis: XAU/USD pushed and pulled in jittery market conditions

Gold prices crumble below counter-trendline resistance despite bullish fundamentals.

Global coronavirus spread, US elections and stimulus uncertainty all in the mix.

The price of gold has been testing the bearish commitments above the $1,900 psychological level following a brief spell below it, printing a low of $1,891.50.

US election and stimulus news is dictating the flows in and out of the precious metal and has kept it coiled in a tight range of prior sessions.However, despite the bullish fundamentals, the price has been chipping away at lower lows below trendline resistance. Global stocks pressured on covid headlines European stocks ended the day sharply lower and the negative sentiment has fed through to Wall Street setting the Dow for its worst day in more than seven weeks.The major indexes are down Dow 2.7%, S&P 2.1%, Nasdaq 1.75%.New infections have touched record levels in both Europe and the United States […]

About the author: StockMan

Please remember:

The information provided here is for general knowledge and educational purposes only.
It is not intended to be a substitute for professional financial advice.
Every individual's financial situation is unique, and what works for one person may not work for another.
Before making any investment or financial decisions, you should always consult with a qualified financial advisor who understands your specific circumstances and goals.

Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, should never be acted upon. Please be aware that any information posted on this site should not be considered to be financial advice and i am not a financial advisor.

Posting Guidelines
  • Do contribute something to the discussion
  • Do post factual information, analysis and your view on company valuations
  • Do disclose if you have an interest in a security
  • Do take our Terms of Use seriously
Do Not
  • Do not make low-content posts, unsubstantiated ramps or untruthful/misleading statements
  • Do not complain about a post unless you have reported it first, and not on the forum.
  • Do not post financial advice
  • Do not advertise or post sponsored content

Get involved!

Get Connected!

Come and join our community. Expand your network and get to know new people!


No comments yet