Global Ounce Price Analysis

date: 7 March 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

Global gold price was increased to 1740 $ last week, however under influence of increasing in US bond yields it has experienced 4 percent reduction and entered in 1600 $ channel. Gold has reached its lowest price in eight months.
Gold seems to have technically reached its support range level, which could enter the 1,700 $ channel from 1,690 $. if the price returns to the 1,700 $ range, Gold could rise to 1,718 $ and then to 1,729$.