Jakarta, CNBC Indonesia – World gold prices fell slightly in trading this morning. In the future, what will be the fate of the price of the precious metal?
On Thursday (13/1/2022) at 07:03 WIB, the price of gold in the spot market was at US$ 1,825.21/troy ounce. Down 0.01% compared to the previous day.
Naturally, today the price of gold fell. Because, the price of this asset has gone up four days in a row. During those four days, the increase was recorded at 2.05%.
The price increase, which is already quite high, has made investors tempted to cash out how. Gold, which is under selling pressure, also drops in price.
However, the prospect of gold prices will remain bright in the future. Wang Tao, Technical Analyst at Reuters, estimates that room for price increases is still open.
“The price of gold will test the point resistance US$ 1,830/troy ounce. A break above that point will make the price rise again to US $ 1,848/troy ounce,” Wang said in his research.
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Source: Reuters- – |
The price of gold, continued Wang, has already penetrated resistance below US $ 1,815/troy ounce and leading to resistance next at US$ 1,830/troy ounce. The increase in gold prices will be driven by wave C, which could make the price rise to US $ 1,850/troy ounce.
“Now US $ 1,815/troy ounce becomes support new. A break below this point will make the price fall to US $ 1,801/troy ounce, “added Wang.
However, it seems that the upward trend in gold prices is difficult to stem. Even Wang mentioned the target bullish can reach US $ 1,920/troy ounce.
“The realistic target is in the range of US$ 1,849-1,877/troy ounce. The rise in gold prices will be divided into five small waves,” he wrote.
 Source: Reuters-– |
CNBC INDONESIA RESEARCH TEAM
(aji / aji)
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