Gold remains buoyed by softer Treasury yields, rising virus fears.
Gold’s upside attempts capped by the US dollar bounce.
Risky-rally over vaccine optimism appears to fade, lifts USD.
Gold’s (XAU/USD) upside attempts continue to remain capped below the $1900 mark, as the metal extends its $20 range play in the European session.Despite the latest leg higher from session lows of $1887, the further upside in the spot appears elusive, as the US dollar stages a comeback across the board.The risk-rally driven by the optimism over the vaccine progress seems to fade amid resurfacing concerns over the surging coronavirus cases worldwide. The safe-haven demand for the greenback returns, lifting the US dollar index from four-day lows of 92.47 to 92.64, at the press time.However, fresh virus curbs announced in some of the US states and expectations of December restrictions in Germany threaten the global economic recovery and […]
November 20, 2020 Published by StockMan