Gold Market Update
Gold prices retreated to the levels of 4 months ago as traders booked profits amid early optimism about Covid vaccines and economic recovery. Traditional gold buying across Asia and jewellery demand has been subdued this year due to lockdowns, and many traders are calling for prices to re-ignite as economic activity in those areas rebounds.
Many traders also found optimism in a number of lower court decisions related to the U.S. presidential election, while others noted that U.S. Supreme Court challenges to the integrity of the election were still a strong possibility given the ongoing controversies about how the election was conducted.
With the recent price declines, gold is touching a key level known as the “200-Day Moving Average”. Technical analysts noted that a similar level hit in March of this year led to a strong price rally.
Gold Price This Month in AUD/OZ
Things that make you go hmmm…about crypto-currencies
This week in our blog, we comment on some of the recent developments in the cryptocurrency market. We try to dig behind the headlines in order to give our customers some additional information about speculation in this arena.
Gold and SendGold in the News
Here are a few articles trending on the subject of gold and SendGold.
Goldman Sachs expects gold to break out of its narrow trading range and soar through 2021 as the coronavirus recession gives way to higher inflation. Goldman also expects demand for gold to strengthen across emerging markets, with Chinese and Indian gold demand “already displaying signs of normalization”: https://
ANZ Bank said that ongoing support from central banks will ensure the rise of regulator-backed digital currencies won’t dull demand for gold. “Certainly on our forecasts for the US dollar, inflation and bond yields, it looks like gold still has plenty of upside”: https://institutional.anz.com/
Citibank predicted a gold price of $2500 in 2021, as analysts on CNBC’s Trading Nation said “the weekly trend still looks quite bullish, and one would want to really buy into any sort of pullback we see over the next month”: https://www.cnbc.com/
SendGold co-founders Jodi Stanton and Mark Pey are presenting a SendGold update for gold and fintech company investors at the Gold and Alternative Investments Conference. Other speakers include Jim Rickards and Rick Rule. The GAIC Virtual Gold Conference is being held online from 9.30 AM to 5.30 PM on Thursday 26th November, 2020, AEST and registration is free: https://goldevents.com.
SendGold Handy Hints
Get 2% top-up on your gold!!
SendGold is offering a Black Friday offer for a gold bonus up to A$250.
More details here: https://rush.gold/top-up-30-november/
Don’t miss out!
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