Gold bulls dominate near record high with eyes on $2,000

Gold buyers catch a breather around the all-time high of $1,967.35.

The yellow metal keeps cheering US dollar weakness, mint wars and geopolitical tension add to upside momentum.

US fiscal package update, coronavirus news and American calendar should be watched for fresh impulse.

Gold rises 1.13% while picking up the bids near $1,964 during Tuesday’s Asian session. The bullion recently surged to the record top of $1,967.35 as US dollar index remains heavy near the lowest since mid-2018. Also fueling the metal’s safe-haven demand could be news suggesting increase in the geopolitical tension and mixed plays the US and Chinese mints. Even so, traders are waiting for the key clues concerning the American fiscal package while targeting $2,000 threshold.

The party that never ends…

More to come…

Technical analysis