Gold price continues to rise: What to pay attention to?
This morning (4/9), the global market saw a reversal in gold prices compared to the previous trading session. Gold experienced a significant decline in value against the US dollar this morning, and is currently trading around $1945 per ounce, prompting investors to return to buying gold. The next target for gold is expected to be $1960.
There are two important levels to note for gold today:
- The range of $1935 is a good opportunity for buyers.
- The range of $1950 is suitable for sellers.
There are two important levels to note for gold today:
- The range of $1935 is a good opportunity for buyers.
- The range of $1950 is suitable for sellers.
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How do you feel about gold prices today?
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Chief market strategist at Blue Line Futures, currently does not see any factors that can stop the rise in bond yields.
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The US Bureau of Economic Analysis' report on second-quarter gross domestic product showed that the economy grew by 2.1%, lower than expectations.
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Gold is expected to undergo significant changes in response to the upcoming monetary policy meeting of the Federal Reserve on September 19-20. We hope that gold prices will continue to receive strong support.
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Daniel Pavilonis, senior commodities broker at RJO Futures, said that gold will only increase in the short term. Precious metals will still be under a lot of pressure in the short term as some economic data remains relatively strong.
