Gold Price News and Forecast: XAU/USD bulls are back
|Gold Futures: Upside looks capped
Prices of the ounce troy of the precious metal appears to have met strong resistance in the $1,650 area. Declining open interest in gold coupled with positive price action hints at the likeliness that further gains look limited around the $1,650 per ounce for the time being, opening the door at the same time for a potential consolidation or correction lower. Read more…
Asia follows US historic rally, Virus spread intensifies, Gold bulls are back
Gold prices are little changed, but that is not likely to remain the case as chaos reigns in the futures and spot market. Gold is definitely a safe-haven when you look at the premium futures is having with the spot market. It turns out the cause was that the Comex warehouses might not be able to get their hands on enough inventory to facilitate physical delivery. Gold futures are trading roughly $45 more than the spot market. The coronavirus impact on travel is making life harder for stocks to come into NY. Read more...
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