Finance

2 Analysts: These Levels Are Critical For The Gold Price!

Gold prices rose on Monday with a “soft” dollar and lower bond yields amid mixed US labor information. It calmed traders’ concerns about a faster policy tightening and helped the metal rise to the $1,800 level once again. At the time of writing, the precious metal is trading at $1,791. So what levels are critical in the precious metal? Here are the opinions of two analysts…

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Comments from analysts on gold price

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The dollar has given up some of its recent strength and gold is “currently retaining some of its Friday gains, challenging the $1,800 resistance once again,” according to Saxo Bank analyst Ole Hansen. This week, the minutes of the Fed’s last meeting are on investors’ radar, which could shed more light on policymakers’ views on inflation and monetary policy.

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Avtar Sandu, senior commodities manager at Phillip Futures, said in a note, “The effects of the Fed’s recent real inclination to a tough fiscal stance have started to wear off as a few Fed officials have calmed the markets.” He added that the immediate resistance of gold is $1,800 per ounce and the reinforcement is $1,750. For more gold news Cryptocoin. com “Weekly Gold Forecast: What Should Investors Expect?” You can check our article.

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