YLG Bullion reports gold price on 30 Sep 2019

YLG Bullion International Company Limited reports gold price on 30 September 2019 and the trend of gold trading

basic factor

Gold price last Friday closed down 7.41 dollars per ounce. At the beginning of the day, gold prices moved in negative territory amid a positive view on trade negotiations between China and the United States after the two countries set a trade negotiation date in Washington on Oct. 10-11. With basic durable goods orders And the consumer confidence index from Michigan State University came out better than expected Which undermined expectations about the Federal Reserve's interest rate cuts this year. The above factors Pressure to fall to the lowest level since September 18 at 1,486.60 dollars per ounce Before the price recovered from the situation of trade war between China and the United States again in the uncertainty after Bloomberg reported by citing sources that Officials in the White House are considering limiting investment portions of US investors in China. By releasing Chinese companies from being listed on the US stock market And restricting the investment of US government pension funds in the Chinese market The uncertainty has put pressure on the US stock market and spurred gold to buy gold as a safe-haven asset, causing the gold price to decrease at a negative level. Chicago

Technical factors

During the day, if the price of gold cannot stand above $ 1,500 per ounce There is a chance that the price will weaken. Test the support. But if standing above the area of ​​1,486-1,484 dollars per ounce There is a chance that the price will move up to test the resistance zone 1,500-1,512 dollars per ounce again.

Strategies for resistance

Focus on making short-term profits by risking buying positions. Which may cost around 1,486-1,484 dollars per ounce But set a loss of $ 1,479 per ounce and delay buying to the next support zone Meanwhile, if the price rebounds, it is recommended to gradually close the position to take profits from the price of 1,500-1,512 dollars per ounce.

suggestion Focus on making short-term profits The acquisition has support at 1,486-1,484 dollars per ounce. (Cut losses if losing $ 1,479 per ounce) and if the price moves up, divide some profit if the gold price does not pass the $ 1,500-1,512 per ounce zone.