Where Did You Gold? - Gold Price Begins Positively, May Potentially Rise To $1,903.

Illustration photo of Gold Price H4 Chart from Economies.com

In the early European market, the gold price maintained its upward trend and still trading at around $1,880 per ounce.

Today, the new rise has moved away from the support line of the bullish channel, enhancing expectations of a bullish trend. As cited by Economies.com, we can expect the price to test the $1,903.50 level, which is the first positive target. If the gold price breaks through this area, there is a chance to reach the level of $1,928.60.

Therefore, we will continue to suggest the bullish trend for the upcoming period supported by the EMA50 that keeps carrying the price from below, noting that it is important to hold above $1,875.00 to continue the expected rise.

In addition, it is likely to linger between the range of $1,870 (support) and $1,905(resistance) today.

FOLLOWME XAU/USD Overall Sentiment (As of 10:40 a.m., Dec 30, 2020),

Short - 49.61%

Long - 50.39%

Source: Economies.com