Saturday 28 November 2020

Gold is dropping and hated - time to buy

Gold is dropping and hated... time to buy? Back in August 2020 when gold hit the 2076 level, we warned about a likely drop in the price of the precious metal. Since then gold has dropped down to its averages and to some key support levels like the daily 200 moving average (200 MA). The sentiment has turned against gold as well (it's not as popular as it was in the Summer). So what could this mean? Could it be a potential buy opportunity? Has an uptrend started? We look at the charts. Video by Alessio Rastani.