U.S. equities recovered from Friday’s substantial decline. Market participants bid U.S. equities higher on hopes of a quick recovery from the global pandemic which is now in its fourth month.

Our technical studies have indicated that it’s not if, but when, gold will effectively trade and close above $1800 per ounce.

The fundamental factors which have taken gold pricing from $1460 in March, to within four dollars of $1800 per ounce this week are still present, and they continue to be highly supportive of gold prices.