連邦準備理事会の決定を前に、金価格は歴史的な最高値付近で安定

モハメド・アブデルハリク
2020年7月29日
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Gold Price Forecast & Technical Analysis: 29th July 2020

The gold price stabilized on the European market on Wednesday within a limited range of transactions, near the highest levels ever recorded earlier in yesterday’s trading, in light of the reluctance of investors to build new centres, in anticipation of the issuance of the Federal Reserve decisions at the conclusion of its periodic meeting of monetary policy.

achieved yesterday by 0.9%, in the eighth daily gain in a row, among the longest series of gains on daily basis since late December 2019, and recorded a new record level at $ 1,981.20 an ounce.

Gold price gained 11% this month

In terms of transactions for the month of July this year, gold prices are more than 11% high, on the verge of achieving the fourth monthly gain in a row, and highest monthly gain since August 2011.

The biggest monthly gain in nine years is attributed to acceleration of purchases of metal as a safe haven, in light of the high risk in global markets, especially the escalation of tensions between the United States and China, the failure of US government to date to control an outbreak of the Coronavirus, and the emergence of new high cases in some countries European, especially Spain.

These gains were also supported by the widespread decline of USD against a basket of global currencies, due to decline in the yield on US Treasury bonds for ten years, in light of the possibility of FED to strengthen stimulus policies to meet the grim expectations of inflation in the United States.

Gold technical analysis 29 July 2020

gold price -29th july 2020

Gold prices based on the level of 1910.10 and bounced up from there, to resume main bullish path within the upward channel that appears in the picture, waiting for more rise during the upcoming sessions, noting that our awaited targets start at 2000.00 and extend to 2068.00.

The expectation of price range is between 1910.00 as support and 2000.00 as resistance

Expected trend for today: bullish

Investors waiting for FED decision

Federal Reserve Board will conclude later in the day its periodic meeting to discuss appropriate monetary policy for economic developments, amid full possibilities of interest rates remaining at 0.25%.

US interest rate decision will be issued by 18,00, and Jerome Powell, Chairman of the Federal Reserve, will speak by 18,30.

Traders are waiting for any new indications that US central bank will increase its purchases of long term debt, or aim a high inflation level in coming years, the expectation to pour in the direction of continuing gold purchases as a safe haven, and enhance the prospects for trading prices of the precious metal above $2,000 barrier per ounce.

著者 モハメド・アブデルハリク

プロのトレーダー兼アナリスト、2004 年から金融および外国為替市場のエコノミスト。エジプトのアメリカン大学で MBA を取得。モハメッドは、多くの国際外国為替および金融取引会社で経済ライターおよびテクニカルおよびファンダメンタルズアナリストとして、英語とアラビア語の両方で日々働いています。