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Gold remains strong amid COVID-19 fears – GOLD Market Outlook – 29/06/2020

SquaredFinancial

Gold hit our target at 1752 on Friday on the back of a rebound in consumer spending, bouncing off the 200 period SMA as the yellow metal ended the week at a fresh 7 year high close at 1769.90 and U.S Treasuries fell as Coronavirus infections continued to surge. The yellow metal confirmed our resistance at 1767 as support level, favoring further bullish momentum with 1780 and 1790 as the closest resistance targets.

Support: 1767 / 1760
Resistance: 1780 / 1790

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Source: https://www.squaredfinancial.com/learn/daily-market-outlook/gold-remains-strong-amid-covid-19-fears-gold-market-outlook-29-06-2020
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