GOLD PRICE
JAKARTA . The
price of gold is still today continue weakening . The analysts see gold price
decline to continue in the next week .
Ibrahim , an analyst at Harvest International Futures , said the rally in gold prices earlier this week was the market euphoria of the possibility of monetary stimulus by the Fed . " The euphoria is exploited investors take long positions . Record high of U.S. $ 1,647 , it 's just up to U.S. $ 1,641 , last fall, " he said .
Interest rate cuts in China for the first time since 2008 should have raised the price of gold . Officials at the Bank of China said the benchmark rate and deposit rate will be lowered 25 basis points per ( 8/6 ) . However , Ibrahim assess China sentiment is not strong enough , because the U.S. central bank did not do what the market wants monetary stimulus . Thus, the trend of gold back down .
Technically , Ibrahim said gold prices could potentially fall . Bollinger band indicator is below the middle Bollinger . MACD also has the negative area . Moving Average indicator is still moving downward . RSI is still bent downwards . " Key Support in U.S. $ 1,527 . If it is not transparent , it will go up , " he said . If translucent , gold may not fall below U.S. $ 1,500 . " If it was not until the U.S. $ 1,527 , well placed for sale at U.S. $ 1544.50 , " she said .
Ibrahim , an analyst at Harvest International Futures , said the rally in gold prices earlier this week was the market euphoria of the possibility of monetary stimulus by the Fed . " The euphoria is exploited investors take long positions . Record high of U.S. $ 1,647 , it 's just up to U.S. $ 1,641 , last fall, " he said .
Interest rate cuts in China for the first time since 2008 should have raised the price of gold . Officials at the Bank of China said the benchmark rate and deposit rate will be lowered 25 basis points per ( 8/6 ) . However , Ibrahim assess China sentiment is not strong enough , because the U.S. central bank did not do what the market wants monetary stimulus . Thus, the trend of gold back down .
Technically , Ibrahim said gold prices could potentially fall . Bollinger band indicator is below the middle Bollinger . MACD also has the negative area . Moving Average indicator is still moving downward . RSI is still bent downwards . " Key Support in U.S. $ 1,527 . If it is not transparent , it will go up , " he said . If translucent , gold may not fall below U.S. $ 1,500 . " If it was not until the U.S. $ 1,527 , well placed for sale at U.S. $ 1544.50 , " she said .
Ibrahim said that price pressures are still strong enough Greek
elections June 17 . Where the most likely winner of the election was the
opposition party . In addition, on June 20 there will be a meeting of the
Federal Reserve . If the central bank give monetary stimulus according to market
expectations , the potential of gold soared to U.S. $ 1,600 more open .
Alwi Assegaf , Universal Broker Analyst , said the strongest support in the U.S. $ 1,526 . " As happened last week , coinciding with the non - farm payroll is ugly . As it approached its lowest level at U.S. $ 1,545 . Support is achieved, the price back again , "he said. Alwi rate in the near future gold will re- test the support level of U.S. $ 1,526 - U.S. $ 1,530 .
Wayne describes the stochastic indicator is death cross . In addition candlestick and a bearish engulfing pattern signifies the reversal of prices after touching a record high at U.S. $ 1,640 . Alwi added potential through U.S. $ 1,526 can be thin . The reason, there has been a double bottom in the price level and mental . " My recommendation would buy on weakness or buy in the area of support , " he suggested .
Alwi estimate next week will play in the gold price range of U.S. $ 1,526 - U.S. $ 1,600 per ounce Troi . Ibrahim was predicted next week's gold price at U.S. $ 1,527.33 - U.S. $ 1,592.91 . Until the end of the month at U.S. $ 1,380 - U.S. $ 1,642 per ounce Troi .(Kontan.co.di)
Alwi Assegaf , Universal Broker Analyst , said the strongest support in the U.S. $ 1,526 . " As happened last week , coinciding with the non - farm payroll is ugly . As it approached its lowest level at U.S. $ 1,545 . Support is achieved, the price back again , "he said. Alwi rate in the near future gold will re- test the support level of U.S. $ 1,526 - U.S. $ 1,530 .
Wayne describes the stochastic indicator is death cross . In addition candlestick and a bearish engulfing pattern signifies the reversal of prices after touching a record high at U.S. $ 1,640 . Alwi added potential through U.S. $ 1,526 can be thin . The reason, there has been a double bottom in the price level and mental . " My recommendation would buy on weakness or buy in the area of support , " he suggested .
Alwi estimate next week will play in the gold price range of U.S. $ 1,526 - U.S. $ 1,600 per ounce Troi . Ibrahim was predicted next week's gold price at U.S. $ 1,527.33 - U.S. $ 1,592.91 . Until the end of the month at U.S. $ 1,380 - U.S. $ 1,642 per ounce Troi .(Kontan.co.di)
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