Gold Price Forecast: Bears are seeking a break of $1,790 support By ross_burland Gold Technical Analysis Commodities DollarIndex
Bears are looking for a break of $1,790 for a run to $1,770.
“It is the most explosive and the fastest-spreading virus in history,” a historian and physician, Anton Erkoreka, who is the director of the Basque Museum of the History of Medicine, said. "We have got to be careful about that, because, even if you have a less of a percentage of severity, when you have multi-multi-multi-fold more people getting infected, the net amount is you're still going to get a lot of people that are going to be needing hospitalization," Fauci explained. "And that's the reason why we're concerned about stressing and straining the hospital system.
The latest data from the US, however, suggest that the Fed could be too hawkish in their forecasts. Thedata showed that job growth in the US continues to slow and is now at an 11-month low. The Us dollar responded in kind by sliding in the aftermath of the report. However, it is attempting to recover.
''The ever-louder hawkish tone from the Fed has prompted money managers to aggressively reduce long gold exposure, while on the other hand, concerns that a global slowdown due to covid in early-2022 may reduce pressure on central banks to introduce more restrictive policy and the likely hedging of risk drove specs to cover shorts in a robust way,'' the analysts said in reference to the latest CFTC positioning data.
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