Monday 20/07/2020 - The sentiment on Gold
Updated: Oct 29, 2020
Last week we saw a great deal of movement in the market, Gold being of great interest to most as it touched highs of $1810.50 an ounce. Other markets performed as expected as the constant warnings of a seconds wave of the Covid-19 approaches. While the world waits eagerly for a vaccine to come on the market it's evidently clear no one is heading for the safety of there underground shelters just yet, though many may have there shelters prepped and ready to go.
For the vast majority of us trying to survive through this pandemic it has in fact felt a little like a long holiday as the Northern hemisphere enjoys the summer sun and people now get to go out to the beaches and outdoors, yet trying ever so hard to keep a meter or two apart as to social distance as it were.
While Donald Trump has made it clear from his side that for most "it's asymptomatic and for most only a case of the sniffles" we have to wonder what truth is in this statement and why we have to now where masks.
The question lies this Monday morning what can we expect from Gold this week.
The expectations for Gold to move closer to $1825.00 an once seems like a very real possibility. Given the uptrend as seen below, all indication for this week to see Gold move long could be in the making.
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