forex Gold Price Has Breached 1500

[Anzo Lim 0]

https://www.wikifx.com/cn_en/

Gold registered additional growth before Christmas on December 24th. Spot gold rose as much as 1% at one point to US$1500.63/ounce, the highest since November 5^th, while spot silver climbed for the 5^th consecutive trading day to US$17.787/ounce, breaking the record in nearly 7 weeks. Sluggish US economic indicators and concerns over the trade relation have supported bullish trend in precious metals, while declining Treasury Bond yield has also boosted precious metals’ demand.

 

Near the end of the year, many fund managers may choose to play defence, worrying whether the stock market can maintain its high position. Having hit a record-high in many years, any adjustment of the stock market can pep up gold price; facing the the overall situation where most assets have gained 2-digit growth, being more steady seems like a rational choice.

 

Daily pivot points for gold: 1482--1484

S1: 1480                R1:  1488

S2: 1475                R2:  1491

Edited December 25, 2019 by Anzo Lim