In the last few days we have seen an acceleration of the gold price as it seems that investors are starting to realize that central banks will be forced to print a huge amount of money and put in place other ultra-expensive measures to fight the coronavirus-induced crisis.
From a technical point of view, the price surpassed the resistance placed at $1,640 earlier this week, managing to rally up to $1,673 before a new pullback yesterday to $1,640. This area, previously a resistance, is now a first support level with the price rebounding again today by almost 1%. The main trend remains positive while investors are still pricing the real impact on the global economy of coronavirus.
