Kuala Lumpur 10:59 a.m. (GMT +8) - In the early Asian market, Gold price rose slightly and is now reported to be near $1,810 per ounce. Economies.com wrote an article to analyse the gold price movement today as follows:
Gold prices rose on Wednesday due to unexpected increases in the number of initial jobless claims in the U.S.. Gold Price closed at $1807.73 per ounce, a slight increase of $0.29 or 0.02%, the highest intraday hit $1817.59 per ounce.
Economies.com wrote in the article that the gold price rose again on Wednesday and once approached $1819.00 per ounce, but gold price subsequently fell and is expected to resume the main bearish trend.
The website said that as long as the price of gold remains below the levels of $1819.00 per ounce and $1830.00 per ounce, the bearish scenario will remain valid for some time to come.
The website also added that it needs to be reminded that the gold price needs to fall below $1,794.84 per ounce in order to open a space for the gold price to fall further to the next bearish target of $1765.00 per ounce.
At 09:12 a.m. Kuala Lumpur time, spot gold was quoted at $1810.59 per ounce.
Translated from the original article: https://www.24k99.com/2011/443...
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