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Analysis




Gold’s Anlaysis for 18 September, 2019

on 2019-09-18

During this week, gold price has fluctuated between $1,493 and $1,511, which has been affected by the delay of the tariff, attack on UAE oil fields, initial trade agreement between Japan and the United States, as well as the Federal Reserve interest rate cut.

Today, the US Federal Reserve will decide on its interest rate whether to have it  raised, keep or cut. Indeed, many economists predict that the Federal Reserve will cut rates by 0.25% to 0.50% in order to strengthen and expand investment in the United States. However, the chair of Federal Reserve chair did not give any indication to the future of US interest rates. On the other hand, the dollar index also slightly dropped from 98.61 earlier this week to 98.30 today.

For Monday's trading, gold price may rise in Asian and European markets and decline in the US market. Therefore, investors should buy gold at current price before the US market open at 8:00 pm (Cambodia Time Zone).
Investors should buy gold at 1,502, setting take profit at 1,515 and stop loss at 1,486.

R1: 1,515      S1: 1,500
R2: 1,530      S2: 1,489
R3: 1,557      S3: 1,480

 

 

Analyzed by: Mr. Cheng Daravuth, Business Manager of Golden FX Link Capital

 

Disclaimer:
Golden FX Link Capital Co., Ltd. endeavors to ensure the accuracy and completeness of this research report. However, as the market is subject to change, the Company and our subsidiaries do not guarantee its completeness and accuracy, and the information is for reference only. Any person shall not regard such information as Golden FX Link Capital Co., Ltd. on leveraged foreign exchange, precious metals, stocks, and other financial products to provide real quotes, suggestions, solicitation and inducement of investment. Guests should be aware of the risks involved in the investment, the volatility of the investment market and the risk of loss can be very big, guests must carefully consider their own financial situation and investment purposes, to decide the direction of investment and the kind of investment products that are suitable for their owns.


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