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Gold bulls look to hold the breakout and use weakness as a chance to buy

From hmarkets.com

Safe haven positioning has boosted gold recently. With fundamental correlations beginning to align and technicals increasingly positive, the outlook for additional gains is improving. We look to use near term weakness as an opportunity to buy gold for further multi-year highs. With the emergence of second wave infections of COVID-19 around the world, risk appetite has turned increasingly cautious recently. The is reflected in falling bond yields and sliding equities. Gold, as a safe haven asset, seems to be a beneficiary of this. The charts below show how correlations for gold with Treasury yields (the US 10 year ... (full story)

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  • Category: Technical Analysis