Kuala Lumpur 10 a.m. (GMT +8) - In the early Asian Market, gold price continues to be under pressure, and now trading at $1,866 per ounce. On the latest gold price movement today, Economies.com wrote a brief analysis as follows:
Due to the increasing number of COVID-19 cases before the U.S. presidential election, the U.S. dollar is still the first choice for safe-haven, and the gold price drop to a one-month low on Thursday.
As mentioned in the same article, the gold price reached the desired price level at $1,860.90 on Thursday, and the price even attempted to go below that level, which implies that the price may fall further over the next few trading days.
Illustration photo of Gold Price H4 Chart from Econimies.com
According to the financial site, if the gold price falls below the level at $1,860.90, the target level will be $1,794.80 per ounce.
On the other hand, if the gold price remains above $1,860.90 per ounce, this is a positive sign for a bullish trend. In order to trigger a rebound, the first target is set at $1,901.80 per ounce.
Translated from the original article: https://www.24k99.com/2010/435...
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