This article was first published on Orbex Forex Trading Blog.
- -
This content is synced from the rightful owners. Copyright on text and images belong to the original source.
- -

Gold

The yellow metal has been firmly lower this week, in response to the rally which has taken place in the US dollar.

It seems that amidst the building fears around a second wave of COVID-19, safe haven flows have gravitated back towards the dollar.

Fresh lockdowns have been announced in France and Germany this week. And there are expectations that other countries, including the UK, will soon follow.

It seems the market is shifting back towards the dynamic seen during the height of wave one of the pandemic. Then, too, equities and gold fell in tandem as the dollar traded higher. Interestingly, the dollar looks to also be deriving some support from better recent polling results for Donald Trump.

The US president has seen a small increase in his national rankings over recent days. He has also made gains in battleground states, with Florida now switching in favor of Trump.

At the very least, the dollar looks to be gaining on the reduced likelihood of the Democrats gaining control of bot...


--
To keep reading this article, please navigate to: Orbex Forex Trading Blog.

Tagged on: