Gold Price Analysis October 2020 | Can Gold Stop Fall Below $1,900?

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The gold price has been under pressure lately, and this week it’s been showing. The beginning of the week was marked by gains in the gold price analysis. Then Wednesday’s trading session saw those gains go out the window as the gold chart toppled down to $1,

The gold price today, however, has managed to regain its footing somewhat as it rose up to $1,888 early this morning. And with such a bumpy start of the month for gold, October is shaping up to potentially bring more volatility in the gold price chart.

Right now there is already plenty of uncertainty surrounding possibilities of a coronavirus vaccine and fear of another lockdown in many countries. A weakening US dollar was initially a beneficial influence on the gold analysis, but now the tables have turned as the risk-on sentiment has caused funds to flow towards high-yield assets. With that in mind, the gold October 2020 forecast entails a high likelihood of further price drops.

Watch our full gold chart analysis and tell us below about what you think of our gold price prediction for the coming weeks. Our gold price analysis (October 2020) will show you the support and resistance levels you need to watch over the coming weeks and months.

What did you think about our gold price analysis October 2020? Let us know in the comments! And please don't forget to like and share our gold price forecast with your friends. For more trading content and our exclusive gold price technical analysis, be sure to subscribe to the channel!


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