Kuala Lumpur 11:00 a.m. (GMT +8) In the Asian market, gold price rose slightly and is now reported to near $1866 per ounce. Economies.com wrote an article to analyse the gold price movement today as follows:
As the market expected the United States to introduce new fiscal stimulus measures, the price of gold rose sharply on Monday. Gold price closed at $1862.27 per ounce, up $23.56 or 1.28%, the highest intraday touched $1685.51 per ounce.
Economies.com wrote in the article that the price of gold continued to rise strongly and successfully broke through the levels of $1838.10 per ounce and $1850.00 per ounce. The price of gold continued for a bullish trend.
The website pointed out that the gold price once approached the target price of $1870.00 per ounce in intraday trading on Monday. At present, we are waiting for the gold price to rise further. Once it reached $1870.00 per ounce, the gold price is expected to continue its upward trend to $1900.00 per ounce.
The website also pointed out that maintaining the price of gold above $1818.00 per ounce is the most important condition for the continued bullish trend of gold.
At 09:04 a.m. Kuala Lumpur time, spot gold was quoted at $1,866.09 per ounce.
Translated from the original article: https://www.24k99.com/2012/446...
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