Gold Price Futures (GC) Technical Analysis – Bullish Over $1917.40, Bearish Under $1889.70

Gold Price Futures (GC) Technical Analysis – Bullish Over $1917.40, Bearish Under $1889.70

Gold prices rose on Tuesday as the U.S. Dollar fell against a basket of major currencies as investors bet on increased stimulus if Joe Biden wins the U.S. presidential election against President Donald Trump.

The dollar slid on the notion a Biden victory would weaken the greenback as the former Democratic vice president is expected to spend big on stimulus and take a more market-friendly approach to trade boosting other currencies at the dollar’s expense.

On Tuesday, December Comex gold futures settled at $1910.50, up $18.00 or +0.95%.

Gains may have been capped by the possibility that there is going to be chaos and controversy surrounding the U.S. election results. These include predictions of lawsuits and recounts. If this is the case then investors could jump into the safe-haven U.S. Dollar, driving down gold prices.Daily December Comex Gold Daily Swing Chart Technical Analysis The main trend is down according to the daily […]

About the author: StockMan
Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, you should before acting on the information or advice, consider the appropriateness of the information or advice in relation to your objectives, financial situation or needs. Please be aware that any information posted on this site should not be considered to be financial product advice.
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