XAU/USD (Gold) Risk On Effect This Week..As Trump gains all swing states and takes hold of congress, he has a mandate to make a lot of changes.
Investors typically view this as inflationary, as well as pro-growth.
This has fed into Markets this week and is providing a large amount of Risk On Sentiment Bias.
That means investors are withdrawing from typical safe haven assets (Gold, Yens etc) and driving into risk assets like equities, cryptocurrencies and risk currencies.
The current waning of demand on Gold comes about from USD strength (as mentioned inflationary effect) and removal of safe haven inflow.
Key levels noted below, should sentiment continue. Would only re-short on pullbacks to ride wave.
