Gold Price Weekly Forecast: XAU/USD bracing for another dose of covid vaccine news

Optimism about a covid vaccine shot down gold prices.

Additional headlines from the medical front, speculation about the Fed, and US retail sales are eyed.

Mid-November’s daily chart is painting a bearish picture.

The FX Poll is pointing to short term falls but long term gains. Blinded by the light at the end of the tunnel – gold tumbled in response to a breakthrough in developing a vaccine for coronavirus. The implication is less fiscal and monetary stimulus, yet rising cases in the northern hemisphere may change the picture. This week in XAU/USD: Shot down by the vaccine, political uncertainty Pfizer and BioNTech reported a 90% efficacy rate in their COVID-19 vaccine candidate . While the results are preliminary, the outcome seems promising not only for these firms – but also for three other efforts using the mRNA approach.Gold has been rising on hopes for […]

Click here to view original web page at www.fxstreet.com

About the author: StockMan

Please remember:

The information provided here is for general knowledge and educational purposes only.
It is not intended to be a substitute for professional financial advice.
Every individual's financial situation is unique, and what works for one person may not work for another.
Before making any investment or financial decisions, you should always consult with a qualified financial advisor who understands your specific circumstances and goals.

Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, should never be acted upon. Please be aware that any information posted on this site should not be considered to be financial advice and i am not a financial advisor.