YLG Bullion International

5 JUNE 2019 GOLD PRICE ANALYSIS BY YLG BULLION SINGAPORE PTE LTD

 

  

Gold Price Analysis on Wednesday 5 June 2019

 

by YLG Bullion Singapore Pte Ltd

 

Resistance Level $ 1,333 $1,346 $1,357

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Support      Level  $ 1,311 $1,303 $1,293

 

 

      Gold prices continue to stand above 1,319 dollars per ounce. If able to stand above the area for several hours Likely to test 1,333 dollars per ounce But if unable to adjust Will produce a selling force periodically The short-term support is at 1,315-1,311 and the major support is at 1,303 dollars per ounce.

 

Suggestion

    Gold price is still not very strong, so there is a chance that the price will test the zone price of 1,333 dollars per ounce. But if the price cannot stand above the resistance level May cause profit-taking Therefore, should consider reducing the purchase status in the resistance area to control the risk.

 

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