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Gold suffers for the first time in 10 weeks: on track to a negative weekly close


It has not been a good week for gold. The precious metal has fallen in the last five days about 4%. Although the news is not that it has regressed, but that it's the first time he's done it in 10 weeks. The refuge value par excellence has not sat well with the normality that has been implanted in squares around the world.

Gold crashed just after Putin announced that Russia had registered the first vaccine against the Covid-19 coronavirus, a new drug that it has many lights but also many shadows, to such an extent that not even they end up trusting its effectiveness. However, optimism gripped investors, which ended up weighing down gold, ending Tuesday with a collapse of more than 4.5%.

You have to go back to 2018 to find a similar drop in gold, a value that has positioned itself as the favorite of the markets in times of crisis. But not everything is so negative, they are falls of little importance. Or so believes José María Rodríguez, technical analyst at ForexNews.online.

"When any news is raised with the verticality with which gold has risen, any excuse, it is good to proportionally adjust / drain the previous excesses. And that is what is happening in gold ", explains the expert.


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