Forex News & Analysis Gold was predicted to reach $1870 in the early hours of today.

[Lens1000]

The gold price was analysed in the early hours today by expert to be heading towards the resistance zone at $1870. The US treasury yield improves the market mood as investors are hopeful following the expected meeting between the US president Joe Bidden and the China's president Xi Jiping.

The meeting is meant to strengthen the relationship between the countries. However, gold bulls are taking over the market following the US Retail sales release. This actually points to more gains and thereby restoring confidence to the bulls in the offing.

The news gathered by Anil Panchal , a renowned forex enthusiast and I quotes "the 100-moving average (DMA) is set to cross the 200DMA for the upside, signalling a potential bull cross"

NOTE: THIS IS NOT A FINANCIAL ADVICE, IT'S FOR LEARNING PURPOSE.

 

[Ruggiero]

I think that gold and silver will be artificially high and will fall thereafter

 

[Lens1000]

I think that gold and silver will be artificially high and will fall thereafter

That's the beauty of the investment in forex. The fluctuations is what brings profit and losses which is the basis of all businesses. The expert cited that gold would rise in the offing following the virtual meeting between Joe Bidden and Xi Jiping. It is expected that the ties would cause a significant price surge.

 

[Victorial]

I am a gold trader and if I saw that prediction earlier, it would have helped me in my analysis of trading gold. It is just that some of this analysis is not always correct and depending on them alone might result in high losses. Trading gold is similar to trading binary (Volatility 75 indices) as both are very volatile and can move so quickly.

In addition to analysis, I also use my little strategies like the Relative strength index (RSI) and the stochastic oscillator to determine when to buy and when to sell. Still, no strategy is without flaws and that can't ne fully trusted