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The yellow metal has been a little softer this week with price weighed upon by the firm rally in equities prices.
Despite concerns over the rising second wave of the COVID-19 virus, equities prices have been well supported by expectations of further central bank easing.
The situation continues to intensify around the globe, with most countries reporting increasing infection rates and deaths. Meanwhile, central banks have been clear in reassuring markets that they stand ready to ease further as necessary.
With this in mind, equities prices have been able to find firm demand again over recent sessions.
The expectations that central banks are on the brink of another round of easing is also helping underpin gold. However, for now, traders appear more drawn to higher-yielding assets to take advantage of the rally we are seeing in risk assets.
USD weakness also continues to provide a buffer for gold.
However, news that Trump has canceled any plans to launch a further stimulus package ah...
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