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GOLD above $2000 for the first time in history – GOLD Market Outlook – 05/08/2020


Gold printed a fresh all time high overnight, ending yesterday’s session at 2018.61 as 5-Year treasury yields hit a record low amidst increased safe haven demand on the back of rising expectations of further monetary and fiscal stimulus and an upcoming review of the US-Sino phase 1 trade deal at a time where tensions between the two countries are on the rise. Heavy data day ahead with ADP Non-farm employment in focus with 2031 and 2050 as next resistance targets.

Support: 2000 / 1980
Resistance: 2020 / 2031 / 2050

SquaredFinancial Daily Market Outlook


SquaredFinancial Review

Source: https://www.squaredfinancial.com/learn/daily-market-outlook/gold-above-2000-for-the-first-time-in-history-gold-market-outlook-05-08-2020
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