Upcoming Gold liquidation?
Crude Oil is currently below 10 US Dollar which will really hurt Russia and other OPEC countries. There was an article that Russia decided to stop buying Gold last April 1, 2020. I just have one question to myself - will they use their Gold holdings and sell it to raise cash? At the current level of Gold, it can be tempting to do so especially Crude Oil is priced in US Dollars. I am monitoring the 4 Hour Chart. As long as Prices are still below the 20 Day Simple Moving Average of the 4 Hour Chart, I will be bearish for now. This is just a simple analysis - nothing too complicated.
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