Where Did You Gold? Gold Price Jumped to Monthly High and Aim Higher, Next Mover: US Stimulus Hopes

Source: economies.com

The gold price is trading near $1882.00 in the Asian market during this early trading. The gold price may rise by more than 1% on Thursday to a one month high as the market is expected that the U.S. congress aims to wrap up a coronavirus relief and government funding deal as millions of Americans await aid in a flagging economy.

Spot gold closed at $1885.27, up 1.11% or $20.62, and hit an one-month high of $1896.14.

Analyst forecast that if the gold price rebound above the level of $1875.00 on Thursday, and once approached the $1900.00 level, which may foresee a bullish trend of gold price in the short-term.

In the case of continued for the bullish outlook of gold price, the next major target for gold price is at $1917.00. Besides that, maintaining the level above $1875.00 is the key condition for achieving the above mentioned bullish target level.

FOLLOWME Overall Sentiment (As of 10:40 a.m.)

As shown above, the overall sentiment of FOLLOWME traders in this symbol leans slightly towards long position with a ratio of 50.07% while the rest of 49.93% is short position.