Kuala Lumpur 5:30 p.m. (GMT+8) - In the European market, the gold price continues to be flat at around $1895. At the same time, the market will be affected because the United States is facing one of the most important political events today - "The 2020 U.S. election."
Biden is ahead of Trump in the national polls, but the two compete fiercely in several important states. People are worried that the result may be unclear on Tuesday night, because the vote count may take days.
Illustration photo of Gold H1 Chart from Investing.com
For the latest gold price movement today, Swissquote Bank wrote a brief analysis as outlined below:
Gold price is currently supported by an uptrend line, the key point is near $1,885 per ounce, and the next thing to focus on is this position.
If the gold price can stay above $1885.00 per ounce, it will lead to a bullish trend, and the targets are set at $1895.00 per ounce and $1904.00 per ounce.
On the other hand, if the gold price drops below $1885.00 per ounce, the outlook will stay bearish, and the targets are set at $1878.00 per ounce and $1873.00 per ounce respectively.
Rationale: The RSI indicator is not obvious, but it tends to rise.
Translated from the original article: https://www.24k99.com/2011/436...
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