Gold falling strongly on the widespread risk-on sentiment after Trump indicated the agreement to transition the power to the president elect Biden – clearing the major source of uncertainty regarding the USA election. The other factor which emboldened the gold bears is the announcement by AstraZeneca that their COVID-19 vaccine, which is cheaper to make, easier to distribute and faster to scale than the other vaccine candidates (also successful in their 3rd stage trials) could be as much as 90% effective. The earlier breakout of the powerful multi-month support level 1850.00 sparked the fresh quant fund selling adding to the bearish pressure on Gold.
Торгуйте с настоящим брокером. Одни из самых низких спредов на рынках Форекс, драгоценных металлов, энергоносителей. Рыночное исполнение ордеров по лучшим ценам от поставщиков ликвидности первого уровня.
GOLD overview 24.11.2020
Gold falls on Trump agreeing to transition power.
Gold falling strongly on the widespread risk-on sentiment after Trump indicated the agreement to transition the power to the president elect Biden – clearing the major source of uncertainty regarding the USA election. The other factor which emboldened the gold bears is the announcement by AstraZeneca that their COVID-19 vaccine, which is cheaper to make, easier to distribute and faster to scale than the other vaccine candidates (also successful in their 3rd stage trials) could be as much as 90% effective. The earlier breakout of the powerful multi-month support level 1850.00 sparked the fresh quant fund selling adding to the bearish pressure on Gold.
Expect sellers on upward corrections.
Next support to watch 1790.00
Торгуйте с настоящим брокером. Одни из самых низких спредов на рынках Форекс, драгоценных металлов, энергоносителей. Рыночное исполнение ордеров по лучшим ценам от поставщиков ликвидности первого уровня.
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