Investing.com investing.com 07 Jan, 2021 20:15 am

Gold Began 2021 With A Bang, Only to Plunge

Gold Began 2021 With A Bang, Only to Plunge
Commodities Analysis by Sunshine Profits (Arkadiusz Sieron) covering: XAU/USD, Gold Futures, US Dollar Index. Read Sunshine Profits (Arkadiusz Sieron)'s latest article on Investing.com

It’s not surprising, as January is usually positive for the yellow metal, but the Georgia runoff results may constitute an additional bullish factor in the longer term.Gold has begun 2021 very well: as the chart below shows, the price of the yellow metal (London A.However, the prospects of larger government borrowing have increased bond yields, which could be negative for the yellow metal in the short-term.p Gold’s positive fundamentals in the long term can be strengthened by Georgia runoffs.

November elections was considered to be the most positive for the gold prices – and nothing changed here for the past two months.With both bond and equities hit by the vision of a Democratic-controlled Senate, gold could be the biggest beneficiary of the Georgia runoff.

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