Trading strategies for gold and crude oil by Tradebulls Securities

Range breakout for gold comes above 45,300

The market sentiment is shifting towards equities and the credibility issue of Turkey has been the primary reason for the gold to move lower on Tuesday. Despite the US dollar trading down and the US 10-year yields declining from the highs, gold still managed to trade lower indicating that the reason for decline is portfolio balancing. In the first nine months of 2020, Gold ETF inflows were nothing short of staggering and in 2021, ETF flows have reversed with outflows around 112 tons while prices have dropped by $200. So, outflows are also having greater impact on prices on the