The price of gold has tumbled below $1700, falling to a low of $1,689. The market mood is positive amid hopes for a cure for coronavirus – Gilead’s Remdesivir – and intentions to open the US economy. The precious metal is a safe-haven asset and is sold off in times of optimism. COVID-19 cases continue rising and any hopes for medication that can help people recover is cheering markets, even though results are partial at this stage. The next levels to watch are $,675, $1,64 and, $1,605. Looking up, $1,707 and $1,740 are eyed. Here is how the move looks on the four-hour chart. Momentum has turned tot he downside but XAU/USD continues trading above the 50, 100, and 200 Simple Moving Averages. 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 EUR/USD: Turnaround in the global risk sentiment FX Street 2 years The price of gold has tumbled below $1700, falling to a low of $1,689. The market mood is positive amid hopes for a cure for coronavirus – Gilead's Remdesivir – and intentions to open the US economy. The precious metal is a safe-haven asset and is sold off in times of optimism. COVID-19 cases continue rising and any hopes for medication that can help people recover is cheering markets, even though results are partial at this stage. The next levels to watch are $,675, $1,64 and, $1,605. Looking up, $1,707 and $1,740 are eyed. Here is how the move looks… Top 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.
