Gold Price Forecast: XAU/EUR renews five-week top above €1,600 with eyes on 2022 By anilpanchal7 Gold Commodities Europe RiskAppetite Coronavirus
low metal prices in Euro increase for the second consecutive day, extending a notable jump marked on Thursday.
Adding to the US dollar strength are the market fears, recently backed by geopolitical headlines. Iran’s space launch derails previous optimism concerning the denuclearization deal with the global leaders. On the same line were the dislikes of China and Hong Kong for the US push to release Hong Kong-based journalists.
In a case where the gold buyers manage to cross the €1,616 resistance, the odds of witnessing a rally towards €1,633 and November’s peak of €1,653 can’t be ruled out.
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