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Gold Trades Muted Despite Bearish Market Sentiment
Posted On 27 Oct 2020
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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.
