Gold still rangebound
dec 8, dec 21, and jan 6 saw highs, then a fall back to the trendline. if it does not fall under, we should see a rise back up to the previous 1961 high by the end of next week/beginning of the following week. shortterm still looks bullish asid from these occasional overnight megasells.
in terms of fundamentals, i think the next few weeks could see sideways or downside movement because of shortterm USD bullishness and the inauguration of biden, but that will dissipate pretty soon after with more extreme fiscal spending. a democrat congress and executive branch will be very bullish as any bill for higher minimum wage, UBI, infrastructure spending, mortgage forbearance, and new social programs will be able to scoot by without any backlash.
in terms of fundamentals, i think the next few weeks could see sideways or downside movement because of shortterm USD bullishness and the inauguration of biden, but that will dissipate pretty soon after with more extreme fiscal spending. a democrat congress and executive branch will be very bullish as any bill for higher minimum wage, UBI, infrastructure spending, mortgage forbearance, and new social programs will be able to scoot by without any backlash.
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