Listen to the latest market mood for the XAUUSD pair.

Falling US 10 year bond yields have weakened the dollar and that has pushed gold above $2000 for the first time ever. The picture for gold bulls remains firmly in place. Low interest rates, no fed rate hike projected for the next 2 years, mass money printed by Govt’s around the world, poor returns expected in equity markets, and the medium term weak US dollar perspective all fuels gold’s rise.

Therefore, expect gold buyers on pullbacks to the broken 4 hr trend line.

We expect this trade to play out between now and the next 1-2 days.

Trade Risks: If we see a sharp recovery in the US economy that will invalidate the bullish gold outlook.