Gold Bulls Look Ready To Enter New Territory
Satendra Singh | Jun 28, 2020 11:33PM ET
On analysis of the movements of Gold Futures, in different time frames, I find that the Gold bulls look ready to enter into new territory ($1805- $1954) amid growing recessionary fear since the Federal Reserve’s move ordering banks to suspend stock buybacks and limit their dividend payments in the third quarter.
Secondly, the growing fear over the rise in coronavirus cases may continue to disrupt reopening hopes for some more time until a successful biological cure for COVID-19 is found.
Disclaimer: The author of this article does not have any position in Gold futures. Readers are advised to take any position in Gold at their own risk.
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