Gold bounces from $1,900 support area and returns to $1,910.
XAU/USD appreciates moderately as risk aversion eases.
Gold futures have found support right below the $1,900 area earlier today before inching up to $1,910, turning positive on daily charts. The precious metal lost ground, with the US dollar building up during the European session on Tuesday, to appreciate during the North American session with market sentiment improving moderately. XAU/USD remains neutral around $1,900
From a wider perspective, bullion prices remain moving directionless within previous ranges, fluctuating both sides of the $1,900 level, with upside attempts capped around $1,910.Investor’s concerns about the consequences of the second COVID-19 wave, with infections soaring in the US and in the major European economies, have crushed appetite for risk, boosting demand for the US dollar and weighing on the dollar-denominated gold.Beyond that, renewed US-China tensions on the back of a potential sale […]
October 28, 2020 Published by StockMan