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Gold now faces another test of the key $1850 zone

October 7, 2020 by admin 0 Comments

Stimulus is off the table for now

The case for buying gold is that easy money policies at central banks and governments are going to last for years. Trump’s decision to call off discussions on a $1.5-$2.2 trillion package put that in doubt, at least for now.

Gold responded by falling to $1875 from $1910. Note the the recent rally stalled out right at the downtrend. What’s next? The $1850 technical level is key.

For more on gold, I spoke with Kitco about the state of play following Trump’s surprise announcement.

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This article was originally published by Forexlive.com. Read the original article here.