Kuala Lumpur 11:20 a.m. (GMT +8) In the Asian market, gold price basically in a stable condition, the current gold price is slightly higher than the $1870 per ounce mark. Economies.com wrote an article to analyse the gold price movement today as follows:
As the market expected the U.S. to introduce more fiscal stimulus measures to counter the impact of the Covid-19 pandemic on the economy, the gold price rose to a two-week high on Tuesday. Gold price closed at $1,870.41 per ounce, up 7.83 US dollars 0.42%, and hit the highest level since November 23 at $1,875.23 per ounce.
Economies.com wrote in the article that the price of gold continued to rise on Tuesday, breaking $1870.00 per ounce, and trying to maintain above this level, which supports our continued bullish trend view.
The website pointed out that with the bullish outlook for the gold price, the next major target for the gold price is $1900.00 per ounce. If it breaks through this level, the price of gold is expected to continue its upward trend to $1,928.60 per ounce.
The website also added that it needs to be reminded that maintaining the price of gold above $1838.00 per ounce is very important for the continued bullish trend.
At 08:07 a.m. Kuala Lumpur time, spot gold was reported at $1,870.39 per ounce.
Translated from the original article: https://www.24k99.com/2012/447...
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