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Market Mood XAUUSD 30.11.20

Market Mood XAUUSD 30.11.20

Market Mood XAUUSD 30.11.20

in Weekly Forecasts

Listen to the latest market mood for the XAUUSD.

Gold has continued to track lower over the last couple of weeks and the next medium-term support level below is at $1750. US interest rates set to remain low over the next three years, large levels of QE from the FED, new US fiscal stimulus approaching and strong demand from Chinese Lunar New Year, should all support gold into year-end and early 2021.

Therefore expect XAUUSD buyers from $1750.

Trade Risks:

  • The main risk to this trade is if there is heavy equity selling on month-end flows or risk-off trading on rising COVID-19 lockdowns.
  • Watch out for further heavy gold outflow from ETFs spilling over into the spot gold market.

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Cookies Policy

Disclaimer: Any opinions made may be personal to the author and may not reflect the opinions of HYCM. All expressions of opinion are subject to change without notice. This material is considered a marketing communication and does not contain, and should not be construed as containing, investment advice or an investment recommendation or, an offer of or solicitation for any transactions in financial instruments. HYCM makes no representation and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or other information supplied by an employee of HYCM, a third party or otherwise. Past performance is not an indication of possible future performance. Without the approval of HYCM, reproduction or redistribution of this information isn’t permitted.

Legal Information: HYCM is the trading name of Henyep Capital Markets (UK) Limited, HYCM (Europe) Ltd, HYCM Limited and Henyep Capital Markets (DIFC) Limited for which the Henyep Capital Markets group is holding company and its assets are a controlling equity interest in them.

* Cryptocurrencies are not available for trading under HYCM (Europe) Limited and Henyep Capital Markets (UK) Limited (retail clients only).

*Any opinions made in this material are personal to the author and do not reflect the opinions of HYCM. This material is considered a marketing communication and should not be construed as containing investment advice or an investment recommendation, or an offer of or solicitation for any transactions in financial instruments. Past performance is not a guarantee of or prediction of future performance. HYCM does not take into account your personal investment objectives or financial situation. HYCM makes no representation and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast, or other information supplied by an employee of HYCM, a third party or otherwise.

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