Gold was seen to bounce of $1,963.36 as factors such as the US-China tussle, ambiguity over American relief package as well as ISM Manufacturing PMI led the bounce of the USD.
Gold has indeed seen a rally this year, as the aftermath of the pandemic boosted up safe haven assets. While the world currently grapples with a second wave of the virus, many opine that the second wave will not have the same shock value as the initial blow in early 2020.
All in all, the $2,000 level would be a critical psychological level to break through for gold to gain higher traction. Will we see it this week?
Note:#trading#
Release of US Non Farm Payrolls this week might be a trigger for the price of gold as it might impact the USD, which in turn might impact the yellow metal.
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