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Main » 2019 » March » 26 » Gold price forecast GOLD 26.03.2019 today: Metals Week beginning ENOUGH steady growth
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Gold price forecast GOLD 26.03.2019 today: Metals Week beginning ENOUGH steady growth

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A new trading week of the yellow metal started fairly steady growth, more than 0.85%, thanks to the support of the dollar and the high level of demand for protective assets.


US dollar pressure had growing concerns about the future prospects of the US economy. On Friday, traders receive a strong signal, indicating the possible development of a recession in the US, for the first time since 2007, the yield on 10-year and 3-month US Treasuries have almost reached the same level. Investors are now waiting for new data important economic statistics from the United States, to assess the current situation and assess the prospects for the market movement.

 

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In general, the market is still a fairly high level of demand for safer assets, as investors have become increasingly concerned about the situation with the development of the world economy. All published in this year's data indicate a slowdown in growth, which puts pressure on the stock markets.


Today, the focus of investors is the situation in the stock markets, as well as economic statistics from the US, which could have a strong influence on the dollar and gold, respectively. Today is expected to publish a report on the construction sector, as well as consumer confidence index CB. For the main indicators output experts expect stronger data that can increase the pressure on the yellow metal.


In the graph there were no significant changes in the last day. The tool continues to move within the rising price channel. Price growth is accompanied by numerous setbacks prices down, but within these setbacks have not yet formed reversal signals. Therefore, in the medium term it remains a priority option with the increase in prices to the level of 1350.00. If we consider the situation locally, there are signals for the formation of the next movement in order to recoil at the level of 1310.00.

 

Levels of resistance: 1320.00, 1330.00, 1340.00;

 Support levels: 1310.00, 1300.00, 1295.00.

The main scenario - reduction in the price of gold to 1310.00.

Alternative scenario - securing the price of gold above 1320.00 and GOLD rate rise to 1330.00.


Fundamental background in gold with a positive shifted to neutral, that has a certain amount of pressure on the price. At a younger time intervals as there are signals about the likely development of the recoil movement, so intra-day preference is given to sales tools that are worth looking at the level of 1320.00

 

 

 

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Based on materials FortFS

 

 

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