Gold testing key support as investors weigh conflicting macro factors

 

Gold has been under some pressure over the past few months and the selling gathered pace this week. The shiny metal fell out of favour because of reduced demand for haven assets as investors looked forward to more normal times ahead in 2021 with the developments of the vaccines. Consequently, they bought more risky assets such as Bitcoin, growth stocks and commodity dollars. But is this the end of the bullish trend for gold, or is this a “healthy” pullback ahead of more gains in the future? While gold may be down, the precious metal is by no means out. The long-term outlook on gold remains favourable. With a ...more