[Where Did You Gold?] A Possible Slide of $40 in the Yellow Metal's Price.
Kuala Lumpur 10 a.m, (GMT +8) - The spot gold price has slightly dropped this early Asian Market and currently trading at about $1,905 per ounce. On the latest gold price movement today, Economies.com wrote a brief analysis as follows:
If the gold price fails to defend the imperative support level of $1,901.80 per ounce, there is a possibility for it to see a drop of up to $40.
The article has mentioned, gold price made a rebound on Tuesday and attempted to test the pivotal resistance at $1,910 per ounce.
![[Where Did You Gold?] A Possible Slide of $40 in the Yellow Metal's Price.](https://socialstatic.fm-cdn.com/social/202010/5d6f4b8917b1400c91ea0ed6d3db512b.png?x-oss-process=image/quality,q_70/format,jpeg)
Illustration photo of Gold price H4 Chart from Economies.com
In the same article, Economies.com said as long as the price of gold remains below $1910.00 per ounce, the bearish trend prospect will continue for a certain period of time in the near future.
To reiterate, the financial site explained that if the gold price drops to below $1,901.80 per ounce and remains under this level, the gold price will further drop to the target level of $1,860.90 per ounce.
Translated from the original article: https://www.24k99.com/2010/434...
Edited 28 Oct 2020, 10:45
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