YLG Bullion reports gold price on 1 Oct 2019


YLG Bullion International Company Limited reports gold price on 1 October 2019 and the trend of gold trading

basic factor

Yesterday's gold price dropped sharply to $ 24.99 an ounce. With pressure from a positive view on trade negotiations between China and the United States. After Mr Peter Navarro, trade policy consultant at the White House, said the news report stated that US is considering limiting investment in China This is "news news", the issue returned to stimulate the buying risky assets in the US market, which pressured the price of gold as a safe asset. Along with supporting the dollar to strengthen In addition, the dollar has been boosted by the fall of the euro to its lowest level in 2 and a half years amid concerns about the growth of the eurozone economy. After revealing the inflation numbers of Germany that slowed down more than expected for the third consecutive month in September. The aforementioned factors have caused sales pressure to pressured the price to break below the major support level which stimulated more technical sales. As a result, the price of gold closed yesterday by -1.7% and the market closed in September with a decrease of -3.5%. However, the gold price remained closed in the third quarter with adjustment. Up 11.7% on the SPDR. Reduced gold holdings by -2.05 tonnes for today. Follow the disclosure of the US manufacturing managers' PMI from Margit and ISM.

Technical factors

If the price of gold cannot go up above 1,479 dollars per ounce Causing to tend to weaken to the support area However, in the zone of 1,479-1,487 up to the ounce Must keep an eye on speculative sales that may increase. If not standing, assess the support at 1,464 or 1,452 dollars per ounce

Investment strategy

If the price doesn't pass 1,479 dollars per ounce May wait to open the sale status in the said zone In hopes of making a profit if the price of gold weakens and can stand above the support range of 1,464-1,452 dollars per ounce However, the investment should be in the form of short-term speculation in the downward direction and should not be considered overnight.

suggestion If the price hasn't come out of the $ 1,464 per ounce zone Wait for the rebound and open the sell position at 1,479 dollars per ounce (cut losses if going through the 1,487 dollars per ounce area) to wait to buy back at the support range around 1,464-1,452 per ounce.

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