Gold Price Analysis

date: 24 January 2021

Gold and oil price are extremely related. As a result, Petrobon price analysis team provide gold price analysis in order to get a clearer view of oil price.

This week is the first meeting of the Federal Reserve in the new US administration, which does not consider raising interest rates in this period, but the possibility of raising interest rates in the next period will be considered in the meeting. It could has a significant impact on raising gold prices. Gold was able to reach the resistance level of 1880 $ last week, which after that it closed on the weekend with a decrease in the price of 1854 $. gold is expected to approach the 1880 resistance level again In the coming week, and then make its next move based on the influence of the Federal Reserve.