Gold Price Analysis November 2020 | Will Gold Rebound in November?

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The gold price rose amidst surging numbers of coronavirus cases in the world. Concerns surrounding a contested presidential election in the United States also spurred demand for the yellow metal, which gave an additional boost to the gold price today.

However, a stronger dollar this week has put a cap on gains in the gold chart. The greenback peaked on Wednesday as the bullion tumbled and the gold price chart was down a whopping 2%. Another factor putting pressure on the gold analysis are the low interest rates that also seem to be directing investors’ attention away from gold. November 2020 is therefore still very much shrouded by uncertainty.

The reelection of Donald Trump, on the one hand, will likely have a negative impact on the price of gold. November might see the yellow metal lose positions in that case, whereas if Biden is elected, the gold price analysis may, on the contrary, experience yet another surge. After all, this year has seen an amazing 24% increase for gold.

Watch our full gold chart analysis and tell us below about what you think of our gold price prediction for the coming weeks. Our gold price analysis (November 2020) will show you the support and resistance levels you need to watch over the coming weeks and months.

What did you think about our gold price analysis November 2020? Let us know in the comments! And please don't forget to like and share our gold price forecast with your friends. For more trading content and our exclusive gold price technical analysis, be sure to subscribe to the channel!


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