Forex expert predicted gold to reach $1870

[JayTeeXI]

Experts predicted that the gold price would rise towards the $1870 resistance zone in the early hours of today. The US bond yield rises as investors are encouraged by the prospect of a meeting between US President Joe Bidden and Chinese President Xi Jiping.

The purpose of the gathering is to strengthen the countries' ties. Following the release of US retail sales, however, gold bulls have taken control of the market. This actually indicates that additional gains are on the way, restoring confidence in the bulls.

"The 100-moving average (DMA) is set to cross the 200DMA for the upside," according to Anil Panchal, a well-known forex enthusiast.

 

[Dita Walczak]

The market context seems to be like this, but there are many obstacles in front of which, if you want to give, you have to give a good movement to the price. Otherwise, it is not possible to reach $1870.

 

[Victorial]

Gold has been moving sideways since the start of the year. It has been finding it hard to cross the 1831 resistance to shoot up. Gold is a very volatile metal and it is one of the fastest ways to make your money in forex if you know how to trade it right. I do not trade old because it has burned my account to the roots.

It is still a market analysis and no one knows how it is going to move. The support is also below 1780 or so. We do not know how the week will turn out but the rate of the US dollar that rose may mean that it might sell high as well following the NFP news last week

 

[Kingstone]

Gold has been trading around 1790 or so since morning and it will likely go up to reach 1800. We do not know the correct price prediction but it might be possible. Gold is very volatile it its movement. I wonder why the experts do not say that the price will reach that mark and not that it is likely going to reach 1870 or not. I think they are shying away from the truth or something or they do not want to be responsible for the losses that may come in.

Either way, you have to trade the forecast or prediction with care. It is not as if the metal commodity will go up to hit 1870 directly without moving sideways.

 

[Ivo Zetticci]

Trade in such currency pairs that work well on your market analysis. EURUSD and XAUUSD are my favorite trading pair as a stable currency pair and I saw that the pair follows trends quite well. With FXOpulence broker, I have narrow trading spread and high leverage so I feel jolly trading with the pair.

 

[FinTrader]

Gold is already trading at the level of 2160. And in principle, this is a logical movement of this asset, when wars and crises occur in the world - investors always invest in the safest and most liquid asset - gold. Therefore, the price rises especially strongly during this period.