Where Did You Gold? Gold Dips After $1,900 Shot, Next Mover: U.S. Stimulus Package

Source: economies.com

The gold price is now trading at around $1,879 during the early trading in Asian market. Right after making a session peak of nearly $1,912, the highest gold futures had since Nov 9, the market fell back and spent the day mostly trapped in a tight $10 range of between $1,880 and $1,890.

The gold price fell slightly on Monday, and the U.S. economic stimulus plan provided support for gold price. Analyst forecast that the gold price expected to return to a bullish trend after approaching its first bearish target of $1,850. Analyst also pointed out that gold price will move upwards if the gold price stay above the $1,875 level.

By looking at the FOLLOWME Overall Sentiment (As of 10:30 a.m.), the overall sentiment of FOLLOWME traders in the XAU/USD leans slightly towards shot-selling with a ratio of 52.05% while the rest of 47.95% is long position.