Corona outbreak and a gold breakout
Corona virus catalyzes gold trend continuation
A price gap in dollar denominated gold is suggesting more gains to come as Corona virus fears escalate. In this article we look at the recent move and catalysts for gold as well as the opportunity which may be presenting.
The triangle consolidation (highlighted grey below) has done well to predict continued gains in the price of dollar denominated gold. The aggressive nature of the move higher has been catalysed by growing concerns that the Corona virus epidemic (contained regionally) could progress to a global pandemic. The pandemic fears are stemming from growing numbers of people infected with the virus outside of China most notably, Italy and South Korea at present.
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