Gold is currently trading at $ 1,730 an ounce and is likely fall to $ 1,666 an ounce over the next week. After positive US job growth in March, according to statistics from the international website Forexfactory.com the number of new jobs in April rose by 652,000. Optimistic about Joe Biden’s leadership in restoring international relations, especially relations between the United States, China and Europe. But there has also been talk of uncertainty surrounding the spread of the​ new covid-19. Due to the impact on the economy covid-19 in early 2020 investors are worried about slowdown again and before everything are getting better, especially now that the problem is spreading in some European countries. Despite the obstacles US Federal Reserve Chairman Powell has been working hard to support the economy by keeping interest rates low to near 0% if inflation and unemployment remain poor. The central bank’s goal may not be to consider raising interest rates, according to CNBC President Powell in an interview with CNBC in March 2021. Based on the information quoted above.

So I would like recommend waiting buy gold at 1715 per ounce.

Gold is currently at 1730, prepare going down to 1666 per ounce, if it cannot break at1666 per ounce, gold may rise to 1755 per ounce.

I recommend buying and selling gold at the following prices:

For the short term, sell at $ 1,705 an ounce and set take profit of $ 30 and stop loss of $ 20.

For the medium term, buy at $ 1,705 an ounce and set take profit of $ 90 and stop loss of $ 50.

For the long term, buy at $ 1,705 an ounce and set take profit of $ 150 and stop loss of $ 100.

Analyzed by：Mr. Daravuth Cheng，Independent Analyst