XAUUSD

9 thg 6, 2020

On the upside, if we were to break above the $1775 level, we will have broken through the overall consolidation area that has been so crucial for quite some time. By doing so, we threaten the $1800 level, and then possibly the $2000 level, longer term. With the way central banks continue to print currency, it makes quite a bit of sense that we will see gold pick up a bit of a bid due to the fact that fiat currencies will lose strength overall. Beyond that, there are a lot of negative headlines out there just waiting to happen, and of course that can push gold higher in a bit of a safety bid.