Gold up to $ 37 to $ 1966
Gold is back in the saddle today and on track to close at the best level since August 18th.
Everything revolves around the dollar today as it trades with Treasury yields. At the same time, you get the feeling that this is a market that is really looking for a theme. The Fed has leaned towards an accommodating model forever and it has been back and forth. Then you have governments unsure of what to do on the stimulus front and some optimism about the virus taking hold.
It all represents a bit of an upscale trade here, maybe until the US election.
In the shorter term, yesterday’s high of $ 1976 is resistance.