Gold prices continue to move in the direction of recovery today

Today (February 12) the gold price is still moving in the direction of an upward recovery. With important support such as the shrinkage of the value of the dollar. Despite many US economic data that came stronger than expected, along with signals from Federal Reserve officials indicating the direction of the Fed to keep interest rates at a high level, but with the general trend of slowing inflation in the United States. However, the situation indicates that the Fed is able to reduce interest rates and tighten its monetary policy implementation during this year. As a result, the value of the dollar and US bond yields are estimated to have a net downward trend. Therefore, when the value of the dollar rises to a high level, and therefore it is sold to make a profit, the dollar still has support to maintain its level of movement as well. After investors lost confidence on the trend that the Fed will accelerate and cut interest rates sharply and therefore gold prices cannot recover much, moreover investors tend to delay trading. While waiting for the January Consumer Price Index (CPI) data to be released in the US tomorrow evening (February 13) at 8:30 pm, for this reason, the value of the dollar and the price of gold may remain with only limited movement.


• Consider selling if the price cannot stand above the resistance area of ​​$2,036-2,041 per ounce.

• Buy back gradually to make a profit. When the price fell without breaking the support area $2,014-2,008 per ounce.

• Sell the position to cut losses. If the price can stand above the resistance level of $2,058 per ounce.

This article was produced by YLG Bullion International.

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