Jakarta, CNBC Indonesia – World gold prices moved up in trading this morning. What are the prospects for the future? Is there still room to go up again?
On Monday (19/7/2021) at 07:14 WIB, the world gold price on the spot market was recorded at US$ 1,816.16/troy ounce. Up 0.29% from the previous day.
In the past week, gold prices rose 0.58% point-to-point. Over the past month, prices have risen almost 2%.
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Wang Tao, Reuters Commodity Analyst, estimates that in the near future the price of gold will experience consolidation. The price of the precious metal is likely to approach the level support in the range of US$ 1,813-1,818/troy ounce because it failed to touch the point resistance US$ 1.833/troy ons.
“If it hits US$ 1,813/troy ounce, it will cause a correction that can last more than a week. But for now, the correction may be deepest only to US$ 1,813/troy ounce,” Tao said in his research.
 Source: Reuters-– |
After the consolidation, the price of gold then has the opportunity to rise. The next target will be at US$1,840/troy ounce. Some corrections will save potential technical rebound to that point.
 Source: Reuters-– |
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