Gold Price Futures (GC) Technical Analysis – Strong Over $1917.90, Weak Under $1881.60; Rangebound in Between

Gold Price Futures (GC) Technical Analysis – Strong Over $1917.90, Weak Under $1881.60; Rangebound in Between

Gold futures are trading lower on Wednesday at dead center of the session’s wide range as traders continued to assess the impact of the current stalemate in the U.S. presidential election.

After an early session plunge in prices, gold spent most of the regular session clawing back those earlier losses on the hope that a Joe Biden victory would lead to massive amounts of new fiscal stimulus. But those dreams may have died after election results showed the Republicans would retain control of the Senate, which would make it difficult to pass a huge coronavirus stimulus package.

At 19:44 GMT, December Comex gold futures are trading $1897.90, down $12.50 or -0.65%.

Although Joe Biden is tipped to win the election, the Democrats appeared to be falling short in their attempts to take control of the U.S. Senate. Gold was underpinned by this news and weakness in the U.S. Dollar, which gave up […]

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