[Golden Group] As long as this level is maintained, the price of gold is expected to rise by nearly $20
2020-11-11


FX168 Financial News (Hong Kong) News On Wednesday (November 11) in Asian markets, spot gold maintained its upward trend, and the price of gold is now reported at around US$1882 per ounce. Economies.com, a well-known financial information website, recently wrote an article on Wednesday to conduct a forward-looking analysis of gold trends in the day.
 
Economies.com wrote in the article that the price of gold fluctuates around US$1,880.00 per ounce. The price of gold needs to gain positive momentum to help push the price of gold to continue its upward trend and stay away from the $1,690.90 per ounce level. Currently waiting for the price of gold to rise to the next major bullish target of $1,901.80 per ounce, and then the level of $1,934.86 per ounce.
 
 
 
(Spot gold 4-hour chart Source: Economies.com)
 
Economies.com said that overall, as long as the price of gold remains above the level of $1,690.90 per ounce, then we will continue to predict that the price of gold is in a bullish trend for some time to come. Once the price of gold falls below $1,690.90 per ounce, this will cause the price of gold to fall further, with the target pointing to 1794.86.
 
Economies.com predicts that today's gold price trading will be located between the support level of $1860.00/ounce and the resistance level of $1910.00/ounce.
 
Economies.com stated that today's expected trend in gold prices is bullish.