Kuala Lumpur 10:10 a.m. (GMT+8) In the Asian market, gold price is now reported at around $1876 per ounce. For the latest price movement today, Economies.com wrote a brief analysis as outlined below.
The gold price rose strongly on Thursday. The hope of more fiscal and monetary stimulus measures has provided support for gold. Gold price closed at $1,876.57 per ounce, up $11.57 or 0.62%, and hit $1,883.60 per ounce during the session.
Economies.com mentioned that the gold price continued to rise on Thursday, expected that the gold price will continue to be bullish. the gold price will reach its first target level at $1,901.80 per ounce. If it breaks through this level, the next target level for gold price is $1,934.86 per ounce.
Economies.com said that maintaining the gold price above $1,690.90 per ounce is a key condition for achieving the aforementioned bullish target.
The website also predicts that $1855.00 per ounce and $1900.00 per ounce will constitute support and resistance to gold prices, respectively.
Translated from the original article: https://www.24k99.com/2011/439...
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