Huitong.com, July 24th -During the market on Sundaya, the short -term gold in the spot suddenly rose rapidly. The price of gold just exceeded $ 2415/ounce, refreshing the high point period.The Indian government announced on Tuesday that it plans to reduce the import tariffs of gold and silver from 15%to 6%.The news is good for the golden trend.Varanasi Stock
In the Asian market on Wednesday (July 24), the short -term gold in the spot suddenly rose rapidly. The price of gold had just exceeded $ 2415/ounce, and the high point was refreshed.FXSTREET chief analyst Valeria Bednarik wrote an analysis of the prospects of gold technology.
Spot gold closed up $ 13.01 on Tuesday, an increase of 0.54%to $ 2409.16/ounce.
The Indian government announced on Tuesday that it plans to reduce the import tariffs of gold and silver from 15%to 6%.India’s demand for gold may increase global gold prices because India is the world’s second largest gold consumer country.Udabur Wealth Management
Gold traders are waiting for the second quarter GDP data released on Thursday, and the latest personal consumption expenditure (PCE) price index announced on Friday because this is the Fed’s preferred inflation indicator.
According to the "Fed Observation" tools of Zhishang Institute, the market is expected to cut interest rates at the Fed in September of 96%.Because gold does not give interest, interest rate cuts can reduce the chance of holding gold, thereby enhancing the attractiveness of gold to investors.
Bednarik said that the golden daily diagram showed that the price of gold has rebounded from 2293.54-2483.68 US $ 2389.30/ounce from 2389.30 US dollars/ounce.
Bednarik added that the simple moving average (SMA) on the 20th of the bullish day has risen slightly lower than the level of the above Fibonacci level, and the long -term mobile average has also risen, consistent with the main bullish trend.Finally, the momentum index is maintained downward, but it is still in the front area; the relatively strong and weak index (RSI) has risen slightly to about 54, and there is another wave of rising to support the price of gold.Surat Investment
(Spot gold daily map)
Bednarik gives the latest important support and resistance of gold prices:
Support level: $ 2389.30/ounce; $ 2377.10/ounce; $ 2364.00/ounceLucknow Wealth Management
Resistance level: $ 2425.70/ounce; $ 2439.90/ounce
At 11:04 Beijing time, the spot gold is $ 2415.91/ounce.
(Editor in charge: Wang Zhiqiang HF013)
Mumbai Stock Exchange