Gold Market Wire
News, analysis and commentary for gold traders and investors
Gold Market Opening
Gold Moves Sharply Higher, Recovers Trend Line
March 20, 2020 - (Gold Market Wire) - Global Equities have reversed some of their recent loses to move roughly 5% higher in early European trading and oil prices have soared nearly 10%, as China reports no new cases of Corona Virus for the second day in a row.
On the back of this, Gold has surged higher, taking out the first resistance around $1510 and climbing back above the trendline it violated yesterday.
How New York finishes today is going to be critical. If equities in the US rally higher from the opening and close on strength, we may yet get a set-up to establish some length.