The strong performance of equity markets in the past few weeks has impacted gold prices despite record levels of QE and rate cuts by global central banks. However, we still have a long view on the precious metal due to fears of a second coronavirus wave and that equities have recovered too quickly and could well give up some gains in the coming weeks. Both these factors would increase safe haven demand for Gold but we would not want the precious metal to consolidate below key support at $1665.