Source: economies.com
At 09:15 a.m. Kuala Lumpur time, the gold price is reported at around $1,852. Driven by the U.S. will provide more support to combat COVID-19, the gold price rose by 1% on Tuesday. Gold price closed at $1853.49, up $26.29 or 1.44%, hit $1855.32 to its highest intraday.
Aside from ongoing fiscal stimulus negotiations, all eyes are on Wednesday's Fed announcement, the market expects the Fed to maintain interest rates near zero. If the Fed sends a dovish signal, gold prices are expected to rise further.
Besides that, analyst pointed out that with the continued bullish outlook for gold price, the next target for gold price is $1875.00 per ounce.
FOLLOWME Overall Sentiment (As of 10:20 a.m.)
As shown above, the overall sentiment of FOLLOWME traders in this symbol leans towards short-selling with a ratio of 52.12% while the rest of 47.88% is long position.
Edited 17 Dec 2020, 11:07
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