Gold hit our short support target at 1850 on Friday, dipping below the 200-period SMA on the hourly chart, only to pick back up as investors continue to weigh surging Covid-19 cases and stricter lockdowns with France the next in line to go into another shutdown within days. All eye’s remain on the Fed’s two day policy meeting – ending Wednesday – as investors look for reassurances of continued support in the form of $120B monthly bond purchases.
Support: 1850 / 1840
Resistance: 1860 / 1870
