Gold falls on dollar bullishness.
Gold under the bearish pressure today under the effect of the knee-jerk reaction by the trades exiting for the US dollar as investors chose the safety of U.S. government bonds, surprised by Turkey’s abrupt decision to replace its central bank head with a critic of high interest rates. The other news affecting the global sentiment and adding to the safe-haven outflows from the gold is the recent report that AstraZeneca’s COVID-19 vaccine performed better than expected in a major late-stage trial in USA potentially opening the way for its emergency authorization in the United States and strengthening confidence in the vaccine after numerous difficulties in Europe and across the globe.
Expect sellers on upward corrections.
Next support to watch – 1720.00
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