On Monday (December 14) Asian markets, spot gold fell moderately, and the price of gold is now at around US$1835 per ounce. Economies.com, a well-known financial information website, recently wrote an article on Monday to conduct a forward-looking analysis of gold trends in the day.
Economies.com wrote in the article that the price of gold continues to fluctuate between two key levels ($1833.00 per ounce support and $1850.00 per ounce resistance). The price of gold needs to break through the above support or break through the above resistance in order to clarify the next trend goal. Until then, we maintain a neutral position.
According to Economies.com, if the price of gold falls below the support of US$1,833.00/ounce, it will promote the formation of a bearish pattern in the gold price trend. On the other hand, breaking through the resistance of US$1850.00/ounce will be a key factor for the continued short-term bullish trend of gold prices. The first bullish target is at US$1875.00/ounce, and the higher target is at the level of US$1900.00/ounce.
Economies.com predicts that today’s gold price trading will be located between the support level of $1815.00/ounce and the resistance level of $1855.00/ounce.
Economies.com stated that today’s expected trend in gold prices is neutral.
At 13:17 Hong Kong time, spot gold was reported at US$1835.18 per ounce.