Gold will continue to be supported by an increase in the amount of money flowing into the Gold market.
In the first quarter of 2020, we saw the stagnation of global economic growth. In order to resolve domestic economic deflation, countries have entered the ranks of countries with negative interest rates. Under the pressures of Deflationary, including the U.S. global economic data are very weak, indicating that the global economy will remain below potential expectations for a long time. Even if the economy rebounds, the fundamentals that underpin Gold will shift from the need to avoid the epidemic to the uncertainty of inflation and central bank debt.
On the daily chart, Gold is in the triangle pattern of the rising channel. It is close to the later stage of adjustment and is ready for development. If Gold breaks through the triangle pressure level of $1725, the price will further rise, with a target of $1800.
According to the 4-hour trend chart, after one month’s adjustment of gold price, Ma index is currently in ascending order, and the rise has just started.
Trading suggestion
Make long position at currency price $1715, profit target at $ 1800
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