Kuala Lumpur 4:30 p.m. (GMT+8) In Asian market, gold price maintaining a rebound trend, the gold price is now reported near $1,881 per ounce. The financial website, Economies.com wrote an article on Thursday to analyse the gold price movement today as follows:
As long as the key support level of $1,690.90 per ounce is held, the gold price may still have room for a substantial rebound in the market outlook.
The price of gold fell sharply yesterday, but maintain its support at the level of $1,690.90 per ounce. The price of gold is expected to regain some lost ground and first test the $1,901.80 per ounce, and then the level of $1,934.86 per ounce.
Economies.com said, therefore, we expect gold prices to rise today. The stochastic indicator sends a positive signal, which supports bullish expectations. It should be pointed out that if it falls below $1,690.90 per ounce and remains below this level, this will stop the expected upward trend and push the price of gold to fall further in the short term.
Economies.com predicted that today's gold price trading will be located between the support level of $1860.00 per ounce and the resistance level of $1910.00 per ounce.
Overall, the website said that today's expected trend in gold prices is bullish.
At 1:55 p.m. (GMT+8) Kuala Lumpur time, gold price was quoted at $1,880.71 per ounce.
Translated from the original article: https://www.24k99.com/2011/438...
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