Where Did You Gold? Gold Futures to a One-Week Peak of Nearly $1,870 Per Ounce, Next Mover: U.S. Fiscal Stimulus Package

Source: economies.com

The gold price is trading at $1864 during the early Asian market. U.S. dollar moved from raising to falling after the Fed announced the dovish outlook for the U.S. dollar. Gold price came off those highs after the dollar trimmed its losses on negative Brexit news that impacted the pound. 

Besides that, as investors awaited to see if U.S. lawmakers will be keep their word in putting a Covid-19 fiscal relief package, gold prices settled up but off session highs. Spot gold closed at $1,864, up $11.16 or 0.60% and hit the highest intraday of $1,865.69 and the lowest hit of $1,844.69.

The gold price is on bullish trend and has return to the above key level of $1,850. Analyst expected that the gold price will continue its bullish trend and the next major target level is at $1875.

FOLLOWME Overall Sentiment (As of 11:40 a.m.)

As shown above, the overall sentiment of FOLLOWME traders in this symbol leans slightly towards short-selling with a ratio of 51.51% while the rest of 48.49% is long position.