Gold is seen to battle with 21-day SMA to keep price at the $1,950 levels, which is a one week high. The yellow metal was seen to rise with the stock markets. One factor that could contribute for this positive movement in gold (at least) for me is the hopes that the Republican and Democrats will be able to find a middle ground in terms of relief to the American citizens. Anyone here breathing a sigh of relief at this upward movement of gold (as well as the stock market)?
An upside target for gold could be at the $1,9671 levels. Stay tuned for ECG monetary policy meeting ahead for potential impact on gold. As the quote describes, it may be rather fiery conditions for gold of late, but let's cheer on the yellow metal!
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