Gold had plummeted this week due to the increasing "risk-on regime" and liquidation of defensive assets (XAU, JPY, USD). The sentiment also has changed to positive due to the upcoming vaccination and expected economic recovery. We expect Gold to bounce from the support (primary scenario), however it may also slip below and turn into consolidation
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.