Hedge funds and people are betting very hard for gold since Covid is hitting hard still in the american and global society, US PIB dropped over 9%, Spain 18% and most of countries are in a similar situation. Also Gold is in a technical really important zone, which it's very likely to be a zone where hedge funds will continue betting for it, wait for a breakout to see confirmation and professional interest cause it may want to continue the correction till the next support zone.
Another reason to keep betting for Gold is that Most of the countries specially the US are printing money much more than they used to before the crisis, inflation is going to be a very important danger in the future for the US if they continue this path. Dollar will lose much more value and Gold will get much more expensive as it keep getting and looking to be after breaking the weekly resistance and continue upwards with strength..
Another reason to keep betting for Gold is that Most of the countries specially the US are printing money much more than they used to before the crisis, inflation is going to be a very important danger in the future for the US if they continue this path. Dollar will lose much more value and Gold will get much more expensive as it keep getting and looking to be after breaking the weekly resistance and continue upwards with strength..
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profits