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⚫️Saxo Bank said gold and silver have managed to move in the opposite direction from other commodities recently, while the Democrats’ victory in the U.S. elections triggered heavy selling in energy commodities such as oil and gas.
⚫️Saxo Bank noted that gains in gold and silver were supported by a weaker dollar and lower U.S. bond yields, while falling oil prices eased inflation concerns 📊
⚫️The bank explained that closing short positions in gold after the price broke above $3,970 per ounce also helped gold recover and strengthened its upward momentum.
⚫️Saxo Bank expects that if the price breaks above $4,225, it will be an additional signal that the rally could continue 🔺️
🌑 $BOME
✅@mshabaka $DOGS
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