Gold falls more than 1% on firm US dollar but on course for weekly gain

Gold falls more than 1% on firm US dollar but on course for weekly gain

From reuters.com

Gold prices fell more than 1% on Friday as a broader market sell-off weighed on the metal along with a firm dollar, while hopes for further stimulus from the U.S. put bullion on track for its first weekly gain in three. Spot gold was down 0.8% at $1,855.81 per ounce by 12:13 a.m. EST (1713 GMT), retreating from a two-week high hit on Thursday. The metal was up 1.6% so far this week. U.S. gold futures fell 0.6% to $1,854.60. "Regardless of the asset class everything from equities to agricultural to softs are selling off and a lot of emphasis is on whether the stimulus could be passed and whether the (COVID-19) ... (full story)

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Jan 22, 2021 5:07pm Jan 22, 2021 5:07pm

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But we can expect a break higher on open coming week (i.e. a good chance of that). Indeed, Gold could gap up on open reversing its seeming bearishness at close Friday.

The Crow (-_-)

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Posted: Jan 22, 2021 1:32pm
Submitted by:
Newsstand

Category: Fundamental Analysis

Comments: 1 / Views: 77