Home Gold News Gold was UP on Tuesday Morning , Reaching a Record High.

Gold was UP on Tuesday Morning , Reaching a Record High.

55
0

Bullion counter may extend the rally :

Gold prices edged lower on Tuesday as the dollar strengthened and risk appetite improved after positive U.S. economic data, while fears over surging coronavirus cases limited losses for the safe-haven metal. The dollar index rose 0.1% against its rivals, crawling further away from a more than two-year low hit last week. A stronger greenback makes gold more expensive for holders of other currencies. U.S. manufacturing activity accelerated to its highest level in nearly 1-1/2 years in July as orders increased despite a resurgence in new COVID-19 infections. Asian shares were on track to open higher on Tuesday, after strong manufacturing data and gains in tech stocks boosted global equities. The top Democrats in the U.S. Congress and White House negotiators on Monday said they had made progress in talks on a new coronavirus relief bill. The U.S. economy, battered by resurgence in the spread of COVID-19, needs increased government spending to tide over households and businesses and broader use of masks to better control the virus, U.S. central bankers said on Monday.

TREND : SIDEWAYS

Time                                      :           04/08/2020

Pivot                                      :           1970.77

Technical View                     :             LONG ABOVE 1976.19

Target                                   :            1981.61, 1989.07, 1999.62

Technical View                     :             SHORT BELOW 1966.99

Target                                   :            1963.21, 1952.75, 1945.19

LEAVE A REPLY

Please enter your comment!
Please enter your name here