Gold (XAU/USD) recorded a fresh all-time high above $1980, as the quest for the psychological $2000 level continues on Tuesday. An unprecedented Fed’s stimulus, falling real rates into the negative territory and US fiscal deadlock weighed on the US dollar, benefiting the yieldless gold. Further, growing concerns over the economic impact of the coronavirus pandemic also collaborated with the upside in the traditional safe-haven. The yellow metal, however, failed to hold up at higher levels and saw a quick drop of about $35, as the greenback retraced some of its recent losses. Let’s look at the key levels for trading gold in the day ahead, as suggested by the Technical Confluences Indicator. more to come … FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next USD/JPY Price Analysis: Recovers from 4.5-month low, 1H chart shows bull RSI divergence FX Street 3 years Gold (XAU/USD) recorded a fresh all-time high above $1980, as the quest for the psychological $2000 level continues on Tuesday. An unprecedented Fed’s stimulus, falling real rates into the negative territory and US fiscal deadlock weighed on the US dollar, benefiting the yieldless gold. Further, growing concerns over the economic impact of the coronavirus pandemic also collaborated with the upside in the traditional safe-haven. The yellow metal, however, failed to hold up at higher levels and saw a quick drop of about $35, as the greenback retraced some of its recent losses. Let’s look at the key levels for trading gold… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
