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Dovish Fed will skyrocket Gold towards the $2000 mark – GOLD Market Outlook – 29/07/2020

SquaredFinancial

The yellow metal hit our short support target at 1920 only to end yesterday’s session on a record close as the greenback continued to slide, amidst risk-off sentiment as Congress and the White House struggled to reach a deal on the latest aid package and six US states registered record Covid-19 deaths. Investors await the US Federal Reserve’s meeting outcome today, with prints above our support level at 1945 to keep bullish momentum strong with 1980 as the target.

Support: 1920 / 1900
Resistance: 1945 / 1960 / 1980

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Source: https://www.squaredfinancial.com/learn/daily-market-outlook/dovish-fed-will-lift-gold-to-the-2000-mark-gold-market-outlook-29-07-2020
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