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Original Stock: If you fall into this support area, gold futures could take a sharp decline. Establishment: Analysis of the latest technological perspectives for gold and silver
Financial News FX168 (Hong Kong) On Tuesday (November 24) in Asian markets, gold futures have maintained a downtrend and are now reported at around US $ 1,822 per ounce. The Kshitij Consultancy Service (Kshitij Consultancy Service) team wrote the latest article on Tuesday to conduct a forward-looking analysis of the outlook for gold futures and silver futures.
As optimism about the progress of the new corona vaccine has raised people’s hopes for a faster economic recovery and prompted investors to move to higher-risk businesses,Gold priceThe week dropped sharply. COMEX December gold futures closed 1.8% lower, at $ 1837.80 an ounce.
British company AstraZeneca said Monday that an interim analysis showed the average efficacy of its vaccine was 70%, with one dosing regimen being 90% effective and the other 62%.
In terms of gold, Kshitij’s advisory service team said gold futures fell well below the $ 1,840 an ounce support on Monday. From the technical chart, the current short-term support for gold futures is $ 1820-1800 per ounce. If it can be held, this could encourage a rebound in gold futures;If the above support cannot be maintained, gold futures could drop dramatically over the next 1-2 months.
(Source of Daily Gold Futures Chart: FX168)
In terms of silver, Kshitij’s advisory service team said that silver futures also fell below the support level of US $ 24 per ounce after the price of silver remained above. of this for a period of time. We currently expect silver futures to test the lower target of $ 22-21 per ounce over the medium term. As long as it stays below $ 24 per ounce, the view on silver prices is still bearish.
(Source of Daily Silver Futures Chart: FX168)
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