Gold price continues to skyrocket as demand for the precious metal surges. The main thrust is coming from the investment sector, after ETF gold demand reached an historical high.
Technically, we are in a new and not yet explored scenario for gold, which is reflecting the huge hunger of investors. While demand from the jewellery sector is muted by the Covid-19 crisis, we are witnessing an euphoric phase, where investors are not considering technical indicators or fundamentals as they are simply focused on increasing their positions on gold, The prevailing uncertainty along with growing expectations for further dovish actions by central banks is likely to fuel this phase..
