4h is looking to form inverted Head and Shoulder, the price should not go below 1770 for upside in coming week. After staging a sharp recovery from the lowest levels in seven months, gold prices are higher on Friday. XAU/USD bottomed at 1760/OZ during the Asian session and then rebound.
BEARISH THEMES Gold to fall on talk of Fed tapering As long as real interest rates are rising, gold will be in trouble Institutional flows to Bitcoin strikes gold Good news on the COVID-19 vaccine front while Biden transition kicks off The rise of vaccines, one step closer to beating this virus Improved productivity thanks to telework is bad news for gold Gold is a reservoir for needed margin call money Iron ore future demand to wane Optimism among investors is bad things for gold Fool's gold as fiat inflation hedge Palladium affected by decreasing car sales worldwide Gold yields no interest Gold does not disappear, it is accumulated
BULLISH THEMES The pandemic winter will take longer than thought The electrification push will mean a massive demand surge for silver Rising demand for electricity and electric vehicles drive copper and platinum 2021 should see improved gold demand Biden's presidency looks promising for the price of gold Democrat takeover to drive Americans into gold Global economic recovery and reflation trades to play out strong Boost for copper as Democrats complete the blue sweep Biden's blue wave provides upside potential for copper Democrat-controlled Senate to expand the US fiscal deficits even further Silver price is substantially lower than historic high Biden’s stimulus plans to be realized, supporting silver Fed to go big and fast