Gold Price Analysis: XAU/USD pressured to break below $1,900
XAU/USD is open to start the week lower by some 0.10% despite a slide in the greenback on Friday by 0.20%. The market is range bound and trendless with election and stimulus uncertainty whipsawing prices from day-to-day.
A second wave of the coronavirus gathering pace is also problematic for investor sentiment, although the recent news of an FDA approval for remdesivir gave a hint of positive news as do the prospects of the Johnson Johnson trials getting back on track.
Read more … Gold Weekly Forecast: XAU/USD (mostly) hinges on Trump´s electoral chances " Putting pen to paper " – such commentary from Washington about a fiscal stimulus deal has been pushing gold prices higher, while pessimism about a deal held it back. With time running out toward Election Day, the next bout of cash to fuel gold prices […]
October 26, 2020 (updated October 26, 2020) Published by StockMan