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Higher US yields capping demand on Gold – GOLD Market Outlook – 15/01/2021


The yellow metal failed to print an hourly close below 1835 support level, printing higher lows despite a weakening greenback as investors weighed ongoing weakness in the labor market and a smaller than expected relief plan, while US10Y held above the 1% mark, capping demand on the safe haven. An hourly close above 1850 resistance/support level will favor further upside as the 20 and 50 period SMA confirm a bullish cross with 1860 and 1870 as the closest resistance targets.

Support: 1840 / 1835
Resistance: 1860 / 1870

SquaredFinancial Daily Market Outlook


SquaredFinancial Review

Source: https://www.squaredfinancial.com/learn/daily-market-outlook/higher-us-yields-capping-demand-on-gold-gold-market-outlook-15-01-2021
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