Spot gold price approaches 1900

Opening price 1886.75 Yesterday closing price 1886.93 Lowest price 1881.27 Highest price 1890.76

Spot gold price approaches 1900

Spot gold approached US$1,900 on Thursday, as the US dollar weakened and more stimulus measures were expected to revive the economy hit by the epidemic. The increase in the number of unemployment claims in the United States last week sparked concerns about the slowdown in economic recovery. In general, as gold approaches the US$1,900 mark, and there is no obvious fundamental pressure on gold, gold stands at US$1,900 or is pegged. The market will pay attention to whether gold can reach the record high of US$1921.18. If it stands, gold There will be no technical resistance above. Pay attention to the initial value of manufacturing PMI of various countries in the day.

Technical Analysis: Gold

Gold still basically maintained a sideways upward trend in the last trading day, with the highest level reaching 1898, an advanced 1900 integer. Today’s Asian morning opened at 1886.75, and prices showed signs of a slight slowdown. The downward trend has not yet started. In the day, the market is mainly arranged sideways.

On the 1-hour chart, the price slowed down after piercing the upper Bollinger Band trajectory after the high of 1898, and gradually fell back to the middle trajectory. It is currently trading sideways near the middle track. The market’s upward momentum is showing signs of further slowing down. The Bollinger Bands exposure is also showing obvious signs of shrinking. Currently, the main market is consolidation.

Day trade strategy: deal with shocks, pay attention to whether the continuous breakthrough of the lower Bollinger track appears.

Resistance: 1890 1895 1900

Support: 1880 1870 1860

Z.com Bullion Analyst: Tony Liu