Tag: gold

Gold lost 4.5% on the week, the worst week since end-September. Stops got triggered after gold breached the $1800 critical threshold. Coronavirus vaccine progress-led economic optimism hammered gold.Gold (XAU/USD) at long last penetrated the basic $1800 uphold on Friday, shutting the week underneath that level unexpectedly since July 16.The spot disintegrated 4.5% of its incentive throughout the week, recording the greatest week after week decay since end-September while broadening the amendment from record highs of $2075 came to in August.The bearish conclusion subverting gold can be credited to seeks after a swifter worldwide financial recuperation, on account of the promising Covid immunization results, which could probably get life to regularity 2021.The Wall St...

Gold has been losing ground after Moderna reported that its COVID-19 vaccine is 94.5% efficient. The Massachusetts-based pharmaceutical company follows in the footsteps of Pfizer and BioNTech, which announced a 90% efficacy last week. Additional efforts by AstraZeneca, Johnson&Johnson, and CureVac are eyed.The growing chances of a quick exit from the covid crisis imply that less fiscal and monetary stimulus would be needed. In turn, the precious metal would have fewer funds to rise on.How is XAU/USD positioned after the second coronavirus vaccine report?The Technical Confluences Indicator is showing that gold is facing fierce resistance at $1,877, which is the convergence of the Bollinger Band 1h-Lower, the Fibonacci 23.6% one-month, and the Fibonacci 23.6% one-week.Further abo...

https://www.youtube.com/watch?v=UcqaJ6PYKScIn this video we'll learn why gold price / rate increases in India. We will see the reasons and factors behind it.