Gold price are about $ 20 more volatile than yesterday. Economic policy now seems better for US.

This is one of the main factors affecting the fall in gold prices. The United States Federal Open Market Committee (FOMC) recently held a conference in which the Federal Reserve pledged to support the US economy during this difficult time by promoting employment goals and maximizing commodity price stability. Progress on vaccination has reduced the prevalence of COVID-19 in the United States. Amid this progress, policy support of economic activity and employment are strengthened. Some sectors severely affected by the epidemic remain weak but show improvement. Inflation has risen, largely reflecting temporary factors. The overall financial situation remains favorable, with some indicating policy measures to support the economy and credit flows to households and businesses in the United States.

US economic data showed signs of improvement in almost every sector, including data on rising GDP, rising employment numbers, and declining unemployment data.

This week, the gold price will fluctuate between $ 1785 an ounce and $ 1735 an ounce, as gold prices may be awaiting key US data on job growth, the average income of the American people as well. I would like to encourage you to wait for the sell gold at 1772 per ounce and set the stop loss at 1788 and set the take profit at 1740 per ounce.

Analyzed by: Mr. Samnang Long, Independent Analyst