FX.co ★ Analysis of Gold for February 11,.2021 - Broken upside chnanel and potential for drop towards $1.785

• Efforts to cut carbon would not apply to sovereign bonds
• ECB corporate bond buying should use climate criteria
• Climate is already linked to ECB's price stability mandate
• ECB should try to adjust value of corporate asset purchases based on climate risk

Some thoughts being shared by Villeroy but nothing too impactful. I'm not a big fan of central banksters getting involved with climate change and green policy but it is what it is and expect to hear more of this in the future.

Further Development

Analyzing the current trading chart of Gold, I found that the buyers got exhausted today and the downside roattion would be probably to correct strong upside movement from recent few days.

Watch for selling opportunities on the rallies with the downside target at $1,785.

Key Levels:

Resistance: $1,855

Support levels: $1,785