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17th Feb 2021
Dalmas Ngetich, for CryptoAltum News Team

Gold's Luster Fading, Bulls Trapped

Gold traders are dodging bullets. Bears are quickly taking back what's theirs, reversing this week's gains, trapping optimistic bulls. Analysts are, nonetheless, concerned about the valuation of the stock market and the risk of inflation. Jerome Powell and Janet Yellen said the financial scene would remain accommodative with low-interest rates and bond purchases. In the meantime, rampant USD and rising bond yields combine to unwind progress made in the last few days.


Gold is a safe-haven. However, the general sentiment among traders is that the global economy is in recovery, with investors in a risk-off mode seeking to invest in yield-bearing instruments. Accordingly, the outflow from the bullion is pulling the ladder from beneath buyers. A stronger USD also means gold bulls are exiting. Therefore, this may exacerbate gold's prospects in the immediate term since losses may be deeper than Nov 2020 losses.

Impact on Gold: 

Bearish. The USDX is firm as optimism around revival in the global economy pushes the USD higher. The resulting demand for U.S. Dollars means a reversal of gold gains and a possibility of even lower lows in the coming days.

More market news over on our Blog

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