Jakarta, CNBC Indonesia – The world gold price experienced a correction in yesterday’s trading. In the future, what is the direction of the price movement of the precious metal?
Yesterday, the world gold price in the market spot closed at US$ 1,757.87/troy ounce. Down 0.36% compared to the previous day’s position.
The price of gold has not been able to get out of the correction trend. In the past week, the price of this commodity decreased 1.38% on a point-to-point.
Unfortunately, this bad trend doesn’t seem to end yet. Wang Tao, Commodity Analyst at Reuters estimates that gold prices will move in the range of US$ 1,756-1,763/troy ounce.
“There is opportunity rebound, but the point resistance relatively limited at US $ 1,782/troy ounce. Trend bearish can only turn into bullish after the price touched US $ 1,788/troy ounce,” said Wang in his research.
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Source: Reuters– |
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