Gold Price Futures (GC) Technical Analysis – Facing Wall of Resistance Between $1889.70 and $1917.40

Gold Price Futures (GC) Technical Analysis – Facing Wall of Resistance Between $1889.70 and $1917.40

Gold futures are holding steady late in the session on Monday despite a firmer U.S. Dollar and strong demand for higher risk assets. Some traders are saying a spike in global coronavirus cases is helping to underpin the dollar-denominated assets because of their potential to weaken the global economic recovery. This could lead to additional monetary stimulus from the central banks and fore fiscal stimulus from the U.S. government.

At 18:53 GMT, December Comex gold futures are trading $1893.30, up $13.40 or +0.71%.

Traders are also monitoring the polls before the U.S. presidential election on Tuesday. Democrat Joe Biden is leading U.S. President Donald Trump in national opinion polls, but the race is tight in several battleground states, with mounting fears the results may not be clear on Tuesday night as ballot counting could take days.

Daily December Comex Gold Daily Swing Chart Technical Analysis The main trend is down according to […]

About the author: StockMan
Tell us something about yourself.
Posting Guidelines
Do
  • 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!

Comments

No comments yet