This year, whenever the S&P 500 entered a short-term bear market, XAUUSD is followed this fall after 8 or 9 days (except June). S&P 500 futures currently down %1.57 today. With the news of the Covid-19 mutation, the markets look weaker relative to last weeks. If markets turn to another short term downward trend, gold bulls must be careful of the possible delayed effect of the S&P 500 on gold.
