Analysts at Citibank offer key insights on why is gold’s next move higher, as the bulls look towards $2000/oz. Key quotes “Drivers of money flow into safe-haven assets and also support gold amid US-China tension escalation. The concern of the second wave crisis drove money flow into safe-haven assets. And also as primary drivers for Citi’s bullish gold market thesis. Gold holdings in ETFs surged to 3.055kt to an all-time high. Low(er) for long(er) interest rates and global currency debasement. We think prices are more likely to make a slow grind higher but generally hold a $1,600-1,700 handle, rather than quickly spike to the $1,850-1,950 area. Global growth and EM recovery in 2021 could be what supports the next leg higher towards $2,000/oz Good resistance is met around $1,800, with support at $1,682-1720.” 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 Asian stock market: Bears keeping the reins as Hong Kong issue intensifies FX Street 3 years Analysts at Citibank offer key insights on why is gold’s next move higher, as the bulls look towards $2000/oz. Key quotes “Drivers of money flow into safe-haven assets and also support gold amid US-China tension escalation. The concern of the second wave crisis drove money flow into safe-haven assets. And also as primary drivers for Citi's bullish gold market thesis. Gold holdings in ETFs surged to 3.055kt to an all-time high. Low(er) for long(er) interest rates and global currency debasement. We think prices are more likely to make a slow grind higher but generally hold a $1,600-1,700 handle, rather than quickly… 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.
