Kuala Lumpur 10:00 a.m. (GMT+8) In the Asian market, gold price remaining strong, the price of gold is now reported at around $1890 per ounce. For the latest price movement today, Economies.com wrote a brief analysis as outlined below.
The rising number of cases infected with the Covid-19 worldwide has once again raised concerns about the economic downfall caused by the epidemic, and the Covid-19 vaccine further pushed up the price of gold, which rose last Friday. Spot gold closed at $1,889.05 per ounce last Friday, up US$12.90 or 0.69%, and hit an intraday high of $1896.67 per ounce.
Economies.com wrote in the article that the price of gold showed a clear upward trend last Friday and was close to the first waiting target price of $1,901.80 per ounce, thus consolidating expectations that the price of gold will continue to be bullish.
Economies.com said that once it breaks through $1,901.80 per ounce, the price of gold will continue its bullish trend and hit the next target of $1,934.86 per ounce.
The website also added that unless the price of gold falls below $1,690.90 per ounce and remains below this level, bullish expectations will remain valid.
Original analysis: https://www.24k99.com/2011/439...
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