Gold Price Analysis for May 2020 | Bulls to Hold 1,700 and Advance?

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The gold price today experienced a sudden drop due to an opening in the US equity markets. This has challenged the precious metal’s status of a safe haven in times of crisis, yet the gold analysis did find support around the $1690 level. And as far as short-term gold trading goes, this is a rather critical point for investors.

On the one hand, we might be facing a further drop of the gold price analysis down to the $1678 intermediate support level. And after that the gold chart analysis may even revisit last week’s low point of around $1660. But on the other hand, we might very well be on the brink of an upcoming gold uptrend. We might even see gold in May 2020 soar back up towards the $1730 level

Watch the full video to better understand the current gold chart and see where the yellow metal may be headed in the weeks to come.

Please give our analysis for the gold price in May 2020 a thumbs up and don’t forget to leave us a comment below! And be sure to subscribe to the Capital.com channel for regular updates on the gold price forecast.

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Видео Gold Price Analysis for May 2020 | Bulls to Hold 1,700 and Advance? канала Capital.com