04.05.2021
The price of gold remains in the range of 1762.00–1797.00. Generally, positive market sentiment and the absence of a strong increase in Treasury yields will support local demand for gold.
Technical side:
The price is above the middle Bollinger band, below SMA 5, but above SMA 14. RSI is above the 50% level and is still declining. Stoch are also declining.
GOLD Spot rate online: monitor the price movement in real time.
Trading idea:
Buy gold when the level of 1797.00 is breached, with a likely local growth to 1821.00.
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