Gold Forecast in November

 Gold prices have risen again last week. This came after the Dow and major U.S. stock indexes gained during the Presidential polling while Dollar reversed down.

Before the U.S. Presidential election, Republicans and Democrats were negotiating for a stimulus to aid recovery from coronavirus slowdown. The difference between USD1.7 Trillion and USD2.2 Trillion has not sealed and left incomplete. However, investors are expecting the stimulus will resume after the polling , hence bringing a fall in USDX last week!

Technically, Gold prices have resurged to USD1950/oz and shown a strong reversal. On the other hand, the support at USD1850 /oz has cemented firmly and could be final for many years to come. In November, we foresee the yellow metal will be threading sideways at higher range from USD1920 - USD2000/oz region.

Silver prices are still threading from USD22.50 - USD25.50/oz range while waiting for an eventual breakout. To gauge the breakout for Silver trend effectively, you may refer to the Gold/Silver ratio for the potential dive-down before getting into the Silver positions.

Last week, the Ant Group that was supposed to list for IPO in Shanghai and Hong Kong markets has been suspended. Thus, the largest IPO on earth has turned into a fairy tale! This could be one reason that partial of the refund will go into precious metals for hedging against uncertainty.

In November, there are some equity listed in Singapore and Malaysia that are bound to rise. Stay tune for our OTOP episodes on every Monday morning when you watch our YouTube channel. Have a great and empowering weekend.


Popular posts from this blog

This Week Highlight - The Post Effect on U.S. Stimulus

FUTU, APPLE, NIO, TESLA trading guide

FUTU Trading anysis guide for 20-May-2021