Gold is facing selling pressure. May be Bitcoin & Stocks are pulling some oxygen out of Gold!! Gold is still bullish in the Long Term (Monthly) Charts. Short Term, there is a high probability of Gold retesting $1775 support again. Anyway, time will tell!!
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Gold is currently trading below 200DMA, seems there is high probability of Gold retesting $1775 (Late November) support. This is combination of Technical Correction and Bitcoin sucking more oxygen.
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Gold is trading in the support area and struggling to find support to push price upwards from this point. Stronger Bond yields & Technical correction are playing a key role in pushing the Gold Prices down. The new Bigger US stimulus package, other fundamental economic data may play in favor of Gold!! 🤞
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It's the Time to Close shorts & Go Long