Thursday, 13 August 2020

Today's Gold Market Update

📝 Comment on Gold on August 13, 2020:


   ‼ ️About news:

 - The US economic data continue to show positive signs of a recovery when the CPI in the US rose to 0.6% compared to the forecast of 0.3%, meaning that US consumers have returned to spending.  And it will boost the economic recovery, plus the expectation of Russian vaccine for treatment, prevention of COVID-19 is still the factor driving Gold prices down.

 - In addition, the negotiation on the new US stimulus package is at a standstill and there is no sign that the parties are willing to give in to return to the negotiating table, so it is likely that Gold will not return to momentum.  increase today.

 ‼ ️ About technical and personal opinion:

 - As I mentioned yesterday from morning till night to keep selling down on the GOLD when the price stood below 1980. And in the beginning of the session this morning I kept the same view that the resistance pushed the price.  down to establish a sell position around 1949-1965.  Targets will be on support levels at 1920-1907-188x. 


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