Listen to the latest market mood for Gold.

Gold has fallen into a key support level around $1900 on rising US10Y yields today. A Democrat blue sweep in the Georgia state run offs give plenty of hopes for extra stimulus coming to support the US economy. Low interest rates have been promised by the Fed into 2023, so the low rates should keep the US dollar pressured over the medium term. With the FOMC minutes being released later today this could be another catalyst for USD weakness. If that proves to be the case then XAUUSD could find buyers from current prices with tight stops running below the trend line marked on the chart.

Trade Risks: The main risk to this trade outlook is from a more optimistic FOMC minutes tonight which could strengthen the USD.