04 Feb

Gold Prices Subdued Below 1850

February 4, 2021

The precious metal is posting modest declines a day after the precious metal fell over 1.2%. However, price action remains well supported above the 1817.80 level.

In the near term, we expect price action to remain trading flat within the 1850 and 1817.80 levels.

The Stochastics oscillator is currently slipping into the oversold level. This could indicate further near-term downside.

Stronger price action is, however, expected on the back of fundamentals. This is especially regarding the Coronavirus stimulus bill.

Free Reports:

Get our Weekly Commitment of Traders Reports - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.

Download Our Metatrader 4 Indicators – Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter

By Orbex

Latest Financial Markets News:

Financial News Metals

Risk Disclosure: Foreign Currency trading and trading on margin carries a high level of risk and can result in loss of part or all of your investment. Due to the level of risk and market volatility, Foreign Currency trading may not be suitable for all investors and you should not invest money you cannot afford to lose. Before deciding to invest in the foreign currency exchange market you should carefully consider your investment objectives, level of experience, and risk appetite. You should be aware of all the risks associated with foreign currency exchange trading, and seek advice from an independent financial advisor should you have any doubts.

All information and opinions on this website are for general informational purposes only and do not constitute investment advice.

InvestMacro

Gold Prices Subdued Below 1850