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Gold Price Futures (GC) Technical Analysis – Strengthens Over $1557.80, Weakens Under $1550.30

From fxempire.com

Gold futures are trading flat shortly before the regular session opening. On Tuesday, the market plunged on a surge in demand for risky assets. Traders who bought gold recently were burned when investors dumped the so-called safe-haven asset and returned to the higher-yielding stock market. Buyers did return early Wednesday as the market neared its January low. Traders said that renewed buying tied to the outbreak of the coronavirus helped prop up prices. At 10:53 GMT, April Comex gold futures are trading $1555.60, up $0.10 or +0.01%. The main trend is down according to the daily swing chart. The trend turned down on ... (full story)

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