Gold Trades Muted Despite Bearish Market Sentiment

The precious metal is attempting to make some recovery, but price action remains broadly muted.

This comes even as the US equity markets are trading in the red on Monday.

With no clear progress on the stimulus bill and the dollar firming, gold prices are in check.

For the moment, the consolidation near the 1900 – 1911.50 level continues.

To the downside, a soft support is near the 1890 handle.

A close below 1890 could signal a shift for further declines in price action. This could potentially open the way for a move to the 1850 handle next.

Won't your trader friends like this?
Orbex
About the Author
“John Benjamin Resident Analyst at Orbex. John has over 8 years of experience specializing in the currency markets, tracking the macroeconomic and geopolitical developments shaping the financial markets. John applies a mix of fundamental and technical analysis and has a special interest in inter-market analysis and global politics.” [space height="10"] At Orbex, we are dedicated to serving our clients responsibly with the latest innovations in forex tools and resources to assist you in trading. Please Director at Visit our site for more details.

Leave a Reply

*