 Good morning, and welcome to the Chart of the Week video with me, David Madden. Today's date is Friday, the 6th of November, 2020, and the time has just gone at 9.35 GMT. And this week's Chart of the Week is gold. This here is a wider-term view of the gold market. Essentially, the market rallied to an all-time high in August. Not surprisingly, it had a fairly sharp correction. So moving straight lines and all that, and there's trading range bound for a number of weeks or even a couple of months. And if you take a look at the price action, if anything, it's broad, you've been moving lower the last few months, but in the context of the wider upward trend. But if you take a look at the price action in the last few sessions, basically nearly in the last week or so, it has been moving higher. Yesterday was a very bullish day. The market's broke above the fifth-day moving average, this blue line here, which comes to play in around 1914 at its highest level since late-ish September. So the market seems to be kind of snapping out of the kind of recent kind of sideways or even negative trend that it's been in. If you can continue to hold above this blue line here, the fifth-day moving average, it's likely we could see the wider upward trend continue. I should that be the case. It could take us back towards the highest scene in mid-September in around 1973. And if you go beyond that, you could then be looking heading up towards the $2,000 mark. That'll be the next big number to the upside. Let's just point out that on a few occasions in the last few months, the fifth-day moving average, this blue line here, will act as a support here, but also as resistance here, and also act as a resistance again only very recently. It seems to me that metric has been of importance recently, and it could act as support should we see a drift lower in the near term. So if we do drift lower, we could even find a case of whereby we drift back towards the fifth-day moving average and then continue on in the wider upward trend. But if we do have a fairly decent break below that, it could take us back down toward this area here in around 1860, the lows of late October. And if you go beyond that, we could be looking heading back down for this area here at 1848, the lows of late September. And if we take out those lows, to be honest, there isn't really a whole lot of ground below that, which could potentially act as resistance. So we could take out 1848, that would then put us back to levels last season in June. So it could even take us back down towards the kind of 1800 mark. So keep an eye on those levels in the near term for Gold. If you are going to be trading Gold, keep an eye on what's been going on with the U.S. dollar. The U.S., there's been a strong inverse relationship between the two markets in the last few months. It's been particularly strong very recently. So any days you've seen a rally in Gold, it's often because of a week. We've got our, and any days you've seen a large sell-off in Gold, it's usually because there's been an upward move in the dollar. And what do you know? The last few sessions, we've seen a very much aggressive move to the downside in the U.S. dollar index. In fact, even on today's session, it fell back to a level last seen in early September. So we're talking, it's not a real coincidence that the U.S. dollar index dropped to a two-month low. And we're seeing one two-week highs, kind of six, seven-week highs in the Gold market. So keep an eye on what's going on with the U.S. dollar index. If you are going to be trading Gold, we also want to talk about is, if you're trading Gold, the dollar index, or quite frankly, any of the financial markets today, today is the first Friday of the month. So that means it's U.S. non-farm payrolls day. And those figures will be released at 1330 GMT. So obviously we could see that volatility in the markets. If you do happen to be watching the video today in advance of the update, my colleague Michael Houston is actually holding a live webinar today at 1315 GMT, covering which you can sign off for our website, cmcmarkets.com, under insights, under webinars and events. And that would be live coverage and reaction to the numbers itself. That's all for this week. Have a good training week and good luck.