Gold Bounces Back Above Key Technical Levels As Bitcoin Tumbles

Gold Bounces Back Above Key Technical Levels As Bitcoin Tumbles

As The London Fix struck, gold prices plunged suddenly this morning, but that dip was met by an aggressive wall of buying…

…that has lifted the price for precious metal back up to two-week highs…

The rebound has broken back above the 100- and 200-DMAs…

Source: Bloomberg

Gold gained as the dollar sank back to the lows of the day…

Source: Bloomberg

Interestingly, gold is also surging as Bitcoin is tumbling…

Source: Bloomberg

A new rotation?

Tyler Durden
Wed, 01/20/2021 – 10:44

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Author: Tyler Durden

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