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GOLD breaking higher as US yields fall – GOLD Market Outlook – 11/03/2021


Gold hit our long resistance target in yesterday’s session at $1730 despite broader inflation readings coming in muted, while President Biden’s $1.9T covid-19 relief bill cleared Congress and heads to the White House for the final signature. All eye’s on Initial Jobless Claims today, as a better than expected reading to strengthen economic recovery theme, while short term technicals favor higher prints on the yellow metal with a breach of $1740 resistance level needed to open the door to further upside.

Support: 1730 / 1718
Resistance: 1740 / 1750/ 1760

SquaredFinancial Daily Market Outlook


SquaredFinancial Review

Source: https://www.squaredfinancial.com/learn/daily-market-outlook/gold-breaking-higher-as-us-yields-fall-gold-market-outlook-11-03-2021
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