Our 300 pip downside target was achieved on Gold...

Bullion bugs have been outshone by bears as Gold’s standing as a store of value and refuge during the coronavirus era is tarnished by rising hopes that immunisation against the deadly disease will arrive sooner rather than later. Moreover, bearish technical forces have gathered momentum following the descent from around Usd 1875.95/oz was only briefly halted to test stops sitting on a break of Usd 1850 and then again on the approach to Usd 1800 and the 200 DMA just below before the breach and subsequent/current base circa Usd 1774.75 where buyers are said to have dipped their toes in again. So, some profit taking or perhaps bargain hunting at the heavily discounted level on Black Friday.