Kuala Lumpur 12:30 p.m. (GMT +8) - In early trading, gold price movement continues its upward trend. Gold is currently trading at $1954 per ounce. Economies.com wrote an article to analyse the gold price movement today as follows:
The price of gold rise last Friday due to the weakening of the U.S. dollar and the increased possibility of Biden's victory in the U.S. presidential election, as well as the market's hopes for the government to introduce a larger-scale coronavirus rescue bill.
Gold price closed at $1,950.86 per ounce last Friday, rise $1.59 or 0.08%, and achieved a high of $1,960.31 per ounce.
In addition, on last Friday, the gold price achieved a breakthrough of $1967.90 per ounce, and then its continues to drop.
Illustration photo of Gold H4 Chart from FX168
Economies.com pointed out that the price of gold is currently expected to resume its upward trend and test $1967.90 per ounce. Continue to predict that gold prices are in a bullish trend in the short term.
It needs to be reminded that maintaining the gold price above $1,934.86 per ounce is very critical for continuing bullish expectations.
Translated from the original article: https://www.24k99.com/2011/437...
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