date: 2 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 ounce experienced a sharp drop after the break of the important support of 1760$, reacted positively to the support range of 1710$ and was able to compensate for some of its decline at the end of trading on Friday and Reach the 1730 $ range.
Due to the declining trend in US Treasury yields, demand for gold is expected to increase, resulting in increasing in global gold prices.
in the first step, Gold is facing a very important resistance of 1767 $ which in case of failure of the ounce resistance in the medium term can rise to the price of 1873 $.