'Golden' opportunity persists, but with psychological barriers.
Updated
Low yields as a result of loose monetary policies globally are driving investors both retail and institutional to gold.
RSI indicators provided a clear sign of retreat in prices in the next immediate day. (2 occasions in July proved it)
No signs of consolidation, SMA 15 as support and $1790 price support.
$1,900 will be a short-term resistance. (psychological whole number)
Target: $2,000 by end 2020.
Some Gold Price targets.
"Bank of America Corp. raised its 18-month gold-price target to $3,000 an ounce -- more than 50% above the existing price record -- in a report titled “The Fed can’t print gold.”
"Goldman raises 12-month gold forecast by 11% to $2,000 an ounce"
RSI indicators provided a clear sign of retreat in prices in the next immediate day. (2 occasions in July proved it)
No signs of consolidation, SMA 15 as support and $1790 price support.
$1,900 will be a short-term resistance. (psychological whole number)
Target: $2,000 by end 2020.
Some Gold Price targets.
"Bank of America Corp. raised its 18-month gold-price target to $3,000 an ounce -- more than 50% above the existing price record -- in a report titled “The Fed can’t print gold.”
"Goldman raises 12-month gold forecast by 11% to $2,000 an ounce"
Trade closed: target reached
Target of $2,000 has reached. The rise don't seem to be running out of steam yet. A bearish engulfing candle at 7th August might signal price consolidation..
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