Gold Price News and Forecast: XAU/USD mildly heavy above $1,700 amid less active markets in Asia
|Gold: Mildly heavy above $1,700 amid less active markets in Asia
Gold prices register 0.30% loss on a day while taking rounds to $1,723 as the markets in Tokyo open for trading on Monday. The bullion prices remain under pressure off-lat amid a lack of major catalysts.
The US coronavirus task force briefings have been canceled for Saturday and Sunday whereas the economic calendar in Asia also remains quiet. Recently, US President Donald Trump witnessed criticism for his suggestion to use disinfectant injections as a trial for the virus treatment. Even so, the Republican leader’s idea of opening up the economy sooner than later guards the risks.
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In this webinar I have discussed practical application of Elliott Wave using various chart including Crude Oil, Gold, SPX, Nifty 50, Reliance (NSE Stock). Possible trading strategies using Elliott Wave for April and May 2020 have also been discussed wherever applicable.
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