Where Did You Gold? - Market May Be Turbulent After Election & Send Gold on a High Time

Kuala Lumpur 6 p.m. (GMT +8) - In the European market, gold price has been rising persistently since the early Asian market today. Gold price continues to hover above $1880, the market is concerned about the upcoming U.S. election day.

Royal Bank of Canada said that the yellow precious metal may benefit from the possible turbulence in the market after the election, and investors should prepare for the prolonged election uncertainty

Illustration photo of Gold H4 Chart from Investing.com

For the latest gold price movement, Swissquote Bank wrote a brief analysis, the content is as follows:

If the gold price stay above the support level of $1,873 per ounce, it will continue on a bullish momentum with the next targets set at $1,890 and $1,898 per ounce.

On the other hand, if the gold price does stay above the support at $1,873 per ounce, this will instead drag the gold price down to the first target level of $1,864 and the next will be $1,859 per ounce.

Rationale : The RSI indicates that the trend is not obvious, but it tends to rise.

Translated from the original article : https://www.24k99.com/2011/435...