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It’s been a much quieter week for the yellow metal on the back of the recent volatility we have seen in prior weeks. The ongoing coronavirus situation continues to dominate market news-flow and remains the key catalyst for price action currently.
Gold prices have recovered strongly off the March lows are now sitting in a holding pattern not far of the year to date highs. With central banks around the world having announced fresh easing in recent weeks, gold prices have been supported. The Fed, in particular, has made the historic move of curing rates to just above 0% while also making the move into unlimited QE. This recent announcement has helped pull the Dollar back from the highs seen in March (index reached highs of 102.95), also helping support gold.
For now, the outlook remains mixed, but upside risks are clear. As gold reverts back to traditional safe-haven status following the stabilisation in asset markets over the last week, focus is on a further push higher. Incomi...
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