| Trade Idea GOLD (Spot) intraday: further advance. |
Pivot: 1762.00
Our Preference: LONG positions above 1762 with 1779 & 1788 in sight. Alternative scenario: The downside penetration of 1762 will call for a slide towards 1753 & 1747. Comment: intraday support around 1762 |
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Gold – Gold Hits Fresh 6-Month High
After the Bank of Japan announced a new round of monetary easing during the overnight session, the price of gold turned bullish and eventually reached a new six-month high. The precious metal gained more than $13 an ounce to reach as high as $1779.14 before staging a reversal and falling to the $1771 level.
Today, gold traders will want to pay attention to euro-zone news, specifically a speech from ECB President Draghi at 16:00 GMT. If the ECB President sounds an optimistic note in his speech regarding the euro-zone economic recovery, investors may revert to riskier assets which could boost gold during afternoon trading.
Disclaimer The analysis we provide is based on the average estimate of price movements in one day. Does not guarantee what we deliver is actually a proper and correct. Everything that happens in the decisions you make on your trading transaction is to be Your responsibilities. Visit Us www.deryworldscorp.web.id
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