Investors are looking at precious metals as alternatives to dollar assets. Therefore, gold quotes and the US dollar index often move in antiphase. After winning the Senate elections in Georgia, Democrats control the entire US Congress. This greatly facilitates the plans of the new Democrat President Joe Biden to change the tax code and increase taxes on corporations. This can increase US budget revenues and reduce its deficit. It is still difficult to say whether taxes will actually increase and how soon this may happen. However, the dollar index has already increased. The yield on US 10-year government bonds rose to 1,12% per annum from 0,9% in early 2021. This has a negative impact on gold quotes.
| Indicator | VALUE | Signal |
|---|
| RSI | | Neutral |
| MACD | | Neutral |
| MA(200) | | Neutral |
| Fractals | | Neutral |
| Parabolic SAR | | Sell |
| Bollinger Bands | | Neutral |
Summary of technical analysis
| Order | Sell |
| Buy stop | Below 1820 |
| Stop loss | Above 1960 |