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Yellow Metal Under Pressure amid US-China Optimism – GOLD Market Outlook – 26/08/2020

SquaredFinancial

Gold is making its way towards our second short support target at 1900 after U.S. stock markets continued to print new highs, and optimism surrounding the latest U.S-Sino relations with China reporting early today that it expects record U.S. Soybean purchase in 2020, denting safe haven demand on the yellow metal.

Support: 1920 / 1900
Resistance: 1945 / 1960

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Source: https://www.squaredfinancial.com/learn/daily-market-outlook/yellow-metal-under-pressure-amid-us-china-optimism-gold-market-outlook-26-08-2020
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