Gold's breakout to $1800 for the first time since August 8, 2012 and the reinforcing downtrend in the US dollar displaces the usual writings on covid cases vs deaths. Before we mention the latest turn in the US-China rift
below, we should remind that the rest of the week should prove a big test
for positive sentiment as the weekend effect fades and US test results ramp up. For the day, silver outperforms all currencies, including gold. (More on gold's relative ascent below).
We also caution watching for a new pattern in Fed communication below. 2 new FX Premium trades were posted before the start of the US session -- one of which is already +80 pips in the green. Below is the subscribers' video, containing Ashraf's analysis behind the new trades and his short-term target for gold.