Kuala Lumpur 11:00 a.m. (GMT +8) In the Asian market, gold price slightly increase and now reported near $1837 per ounce. Economies.com wrote an article to analyse the gold price movement today as follows:
The website stated that the gold price hovered around $1838.10 per ounce, and the gold price closed above this level last Friday.
The website said that from the 4-hour chart, the EMA 50 indicator continues to support gold prices. Currently waiting for the price of gold to continue to rise, the first bullish target is at $1850.00 per ounce. Once this level is breached, the price of gold is expected to further rise to $1870.00 per ounce.
The website also pointed out that maintaining the gold price above $1818.00 per ounce is very important for continued bullish expectations. It is expected that $1820.00 per ounce and $1870.00 per ounce will constitute short-term support and resistance to gold prices respectively.
At 08:23 a.m. Kuala Lumpur time, spot gold was quoted at $1837.09 per ounce.
Translated from the original article: https://www.24k99.com/2012/446...
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