Kuala Lumpur 03:10 p.m. (GMT +8) - In the early Asian market, gold price maintaining the downward trend, the price of gold is now reported near US$1826.50 per ounce. Economies.com wrote an article to analyse the gold price movement today as follows:
the gold price fell below $1,690.90 per ounce yesterday and closed below this level. It is worth noting that the gold price fell further after the start of today's trading, which confirmed that the outlook for the gold price turned bearish, and the road to the downside bearish target of $1,794.84 per ounce had been started.
Economies.com said, therefore, it still predicts that the gold price will be in a bearish trend in the next few trading days. It should be pointed out that once it falls below $1,794.84 per ounce, the price of gold will fall further, with the target pointing to $1765.00 per ounce. Unless the gold price successfully breaks through the $1,690.90 per ounce and remains above this level, the bearish expectations will remain valid.
The website predicts that today's gold price trading will be located between the support level of $1795.00 per ounce and the resistance level of $1840.00 per ounce.
The website also stated that today's expected trend in gold prices is bearish.
At 01:57 p.m. Kuala Lumpur time, spot gold was quoted at $1826.44 per ounce.
Translated from the original article: https://www.24k99.com/2011/442...
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