| GOLD (Spot) intraday: the bias remains bullish. |
Pivot: 1770.00
Our Preference: LONG positions above 1770 with 1791 & 1800 in sight. Alternative scenario: The downside penetration of 1770 will call for a slide towards 1763 & 1759. Comment: the RSI is mixed with a bullish bias. |
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Gold – Gold Remains Close to 11-Month High
The price of gold spent most of yesterday’s trading session within reach of an 11-month high hit earlier in the week. Concerns about the pace of the global economic recovery helped keep demand for the precious metal high throughout the day. Gold advanced close to $9 an ounce to trade as high as $1781.66 before dropping to the $1778 level toward the end of European trading.
Today, gold traders will want to pay attention to both the ECB Press Conference at 12:30 GMT followed by the FOMC Meeting Minutes at 18:00. Any indications that either the euro-zone or US economic recoveries are not progressing quickly enough could boost demand for gold, which may cause prices to rise further
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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