**SUNDAY MARKET BREAKDOWN** Short-term GOLD technicals

Levels to look out for.

Bearish news for gold:

Meltdown, the formal end of fiscal stimulus talks was only the beginning of a down week for gold, which also struggled with the covid-related gloom. The fate of the precious metal hinges on the elections, yet surprise stimulus from central banks could also move XAU/USD.

Bullish news for gold:

- A higher gold price can bolster inflation expectations, and this is what central banks want
- IMF expects the Precious Metals Index to rise
- Stagflation is coming, gold to shine
- Pension funds are contemplating buying gold
- Democrat majority in Senate implies higher fiscal spending
- US fiscal stimulus package to be passed this year or even before the elections