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GOLD Might Break Below $2000 as US Yields Rise – GOLD Market Outlook – 11/08/2020

Gold hit our long entry resistance target at 2050 before retracing lower on stronger than expected JOLTs Jobs Openings data as US bond yields rebounded from multi-month lows. The yellow metal is printing below our support now resistance level at 2020 with technicals favoring lower prints with the 200 period SMA and 2000 level as closest support targets.

Support: 2000 / 1980
Resistance: 2020 / 2031

SquaredFinancial Daily Market Outlook

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SquaredFinancial Review

Tuesday, 11 Aug, 2020 / 7:31

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Source : https://www.squaredfinancial.com/learn/daily-market-outlook/gold-might-break-below-2000-as-us-yields-rise-gold-market-outlook-11-08-2020

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