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Freshie
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Gold needs to surpass this region to sustain a deeper recovery.

Analyst's at Credit Suisse have been analyzing the gold market for a potential direction. The team has put together a few scenarios in the bank's latest research note.

The bank said "Gold remains slightly below $1834/36 but has improved in the short-term as Real Yields fall. Still, the yellow metal needs to surpass this region to sustain a deeper recovery."
 
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Gold Prices Rebound as COVID-19 Fears Take Hold

Earlier this week, spot gold fell on the back of a stronger dollar and higher U.S. 10-year Treasury yields (higher opportunity cost of holding gold). Sourcing from ‘hawkish’ Fed minutes and strong initial jobless claims jobs data, the dollar was unrelenting. Initially, other safe-haven currencies picked up momentum (JPY, CHF) as COVID-19 contagion concerns were being mulled over but Friday’s new variant fears sparked a more systemic effect. Gold’s safe-haven appeal is typically realized when risks are widespread as opposed to localized – in this case, unique to Europe until now.
 

g-man

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So?...will the gold price rise up?
Gold Prices Rebound as COVID-19 Fears Take Hold

Earlier this week, spot gold fell on the back of a stronger dollar and higher U.S. 10-year Treasury yields (higher opportunity cost of holding gold). Sourcing from ‘hawkish’ Fed minutes and strong initial jobless claims jobs data, the dollar was unrelenting. Initially, other safe-haven currencies picked up momentum (JPY, CHF) as COVID-19 contagion concerns were being mulled over but Friday’s new variant fears sparked a more systemic effect. Gold’s safe-haven appeal is typically realized when risks are widespread as opposed to localized – in this case, unique to Europe until now.
 
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