Trading signals

XAUUSD

XAUUSD

Bad news related to UK PM Boris Johnson’s health and weakening of the dollar's demand helped the gold to gain some traction. Declining numbers of the death from coronavirus in the USA and the EU might slow down the gold's further advance.

 

The main scenario is a growth to 1690.   

An alternative scenario is a move to 1630.

 

If bulls keep the momentum they will break 1665 and will push the spot to 1690. 

A consolidation below 1650 may cause a sell-off towards 1630.

 

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