FX.co ★ Analysis of Gold for June 26,.2020 - Watch for potential new buying wave and test of $1.778

Markets showed signs of optimism on Friday, with European shares opening higher and oil prices rising despite a record number of new Covid-19 infections in the United States.

They rose across the US by at least 39,818 on Thursday, the largest one-day increase of the pandemic. The governor of Texas temporarily stopped the state's reopening on Thursday as infections and hospitalisations surged.

Technical analysis:

Gold has been trading sideways at the price of $1,764. I see potential for the further rally towards the level at $1,778.

Trading recommendation: