UPDATE Gold & Silver Price Analysis November 2020: Massive Volatility!

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The Gold price beat a sharp retreat on Monday, sliding over 2% after Pfizer said initial data from a large study showed its COVID-19 vaccine was more than 90% effective, sending stock markets soaring and denting bullion’s safe-haven appeal.

Last week, with all the commotion surrounding the US presidential elections, both the silver and gold price saw gains. So much so that both precious metal futures reached 6-week highs with the gold chart recording a $ jump up to $1, for December’s futures.

Similarly, the silver chart saw similar movement with the price going up $ to reach $ per ounce. The main culprit for these rapid gains for both silver and gold in November 2020 was the weakening US dollar that reached a 9-week low in the wake of the elections.

However, concerns surrounding the peaceful surrender of power were also what spurred the demand for safe-haven assets and, respectfully, drove the gold and silver price up. Furthermore, an intensifying situation with COVID-19 cases soaring globally has also been a factor in both the gold analysis and the silver price analysis alike.

And the way things are going at the moment, it would appear that the gold price today is steadily aiming for its critical resistance zone of $2,000 per ounce.

Watch our full gold price analysis and tell us below about what you think of our gold price prediction for the coming weeks. Our gold and silver chart analysis will show you the support and resistance levels you need to watch over the coming weeks and months.

What did you think about our silver price analysis in November 2020? Let us know in the comments! And please don't forget to like and share our gold price forecast with your friends. For more trading content and our exclusive silver technical analysis, be sure to subscribe to the channel!

00:00 Intro
00:29 Gold & Silver live crash
01:40 Open trades check
02:06 Gold & Silver intro
02:58 Gold & Silver news
05:35 Gold support & resistance
05:56 Silver support & resistance
06:16 Gold technical analysis
09:40 Open gold position
11:39 Silver technical analysis
13:49 Silver trade check
14:33 Recap

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#Silver
#GoldPrice


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