Gold price hits the recent support, will it move up?

Gold Analysis

Gold has reached the recent support zone in the 4-hour timeframe chart.

Let’s wait for the confirmation of breakout or reversal.

If the breakout happens at this support zone, we can expect the gold price to reach the next support zone 1770

The major reasons for the gold price fall

Gold and Silver funds net outflows from investors in the last 3 months as data shows.

Investors put $43.1 billion in Equities as optimism over Vaccines and Bigger stimulus packages from Joe Biden.

Corona virus vaccine details

Gold prices remain Gloomy outlook persists, and pandemic era now gets closer to complete by Vaccinations.

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