Gold rises on safe-haven demand.
Gold continues to rise today – rising to highest in more than a week today, after the metal’s appeal was bolstered by a weaker dollar and lower U.S. Treasury yields. The demand for golden is also driven by the safe-haven inflows after it was reported that there is a link between AstraZeneca’s COVID-19 vaccine and the blood clots – jeopardising the currently undergoing vaccination programmes across the Europe and the world. Apart from that – Michigan reported a record number of coronavirus cases on Monday to top the daily tally among U.S. states, about a month after easing restrictions – prompting concerns that the lockdown restrictions will be kept for longer than it was expected across the USA.
Expect buyers on downward corrections.
Next resistance to watch – 1755.00
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