Dear traders and followers,
welcome to our weekly gold market update !
Yesterday the Gold market dumped after Pfizer and Biontech released a success in Vaccine development. The success rate for this vaccine is near 90 % but I expect first sells in the middle of 2021 because the vaccine approval trough gouvernment needs a lot of time. Yesterday was only a short term FOMO day which brought great buy entry for Gold. Don't forget the economy is still very bad. A lots of insolvencys will be published in 2021 especially in Germany because the insolvency reporting has been stopped in 2020 by the gouvernment and starts again in 2021. Gold is still long term bullish until it stay above 1700 $ area
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