[Where Did You Gold?] Pelosi Admits That Stimulus Will Still Stalemate Before The U.S. Election. Gold Flopped to 1910.

Kuala Lumpur 10:30 a.m. (GMT +8) - In Asian markets, the U.S. dollar index rebounded and currently trading at around 92.80; spot gold fell rapidly in the short-term and even touched the $1910 per ounce at one point. The rebound of the dollar pressured the gold prices towards the bearish trend. Meanwhile, the U.S. Fiscal Stimulus has not been released so far. The Speaker of the US House of Representatives Pelosi believes that it may not be possible to pass the stimulus before the U.S. election. This statement also put a damp on the bullish momentum.

Illustration photo for Gold Price H4 chart.

On Thursday, Economies.com pointed out in a recent article that the gold price was once close to its long-awaited target price of $1,934.86 per ounce on Wednesday, but this level came across a strong resistance resulted in a drop. Investors were advised to be vigilant in their future trading.

The financial site also noted that if the gold price remains below the level of $1,934.86 per ounce, this will put the gold price on a bearish trend further. The first targets are set at $1,901.80 per ounce and $1,889 per ounce.

It also expected that the levels of $1889.00 per ounce and $1932.00 per ounce will constitute the short-term support and resistance to the gold prices, respectively.

Translated and processed from the main article:https://www.fx168.com/all/2010...