Indecision
Gold etf flows have been stable over the last couple of trading sessiond and the near term direction for Gold will now look to the Fed. Yes, we have a vaccine coming. Yes, we have a stimulus bill expected. However, the Fed is still likely to need to do another round of easing. That could be the catalyst gold needs to launch higher onto Q1 2021. Don't forget seasonal demand picks up around now for gold. See here.
Gold has been indecisive over the last few trading days as it awaits potential new direction from the Fed on Wednesday.
