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Gold eyeing higher amid hopes of larger stimulus packages – GOLD Market Outlook – 06/01/2021

SquaredFinancial

Gold hit our long resistance targets at 1950 amidst ongoing greenback weakness as investors wait for Georgia runoff results with some networks starting to report a win for Democrat Warnock, while Covid-19 cases continued to surge globally. A blue sweep is expected to further exacerbate greenback weakness on hopes of larger stimulus packages which favors higher prints on the yellow metal, with 1950 and 1960 as next resistance targets.

Support: 1937 / 1930
Resistance: 1950 / 1960

SquaredFinancial Daily Market Outlook


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Source: https://www.squaredfinancial.com/learn/daily-market-outlook/gold-eyeing-higher-amid-hopes-of-larger-stimulus-packages-gold-market-outlook-06-01-2021
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