GOLD PRICE ANALYSIS:
Gold price are under pressure as the US economy as well as the Us dollar stabilises. The US dollar is a major focus this week and causing a downward pattern in the daily gold price. The price of gold is currently trading at $1,868.0, has travelled between a low of $1,819.16 and $1,855.60.The hope of having progress in covid vaccine and for US economy stimulus,but there could be a major twist to the US economy outlook ,given that US economy recovery is losing momentum. On the other hand gold could attract speculative interest. Gold markets initially fell during the trading session on Monday but buyers could be a support to market.The central banks around the world continue to flood the markets with money,such massive amount eventually contribute to higher gold prices.
