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Gold Prices Subdued Below 1850

Posted On 04 Feb 2021
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The precious metal is posting modest declines a day after the precious metal fell over 1.2%. However, price action remains well supported above the 1817.80 level.

In the near term, we expect price action to remain trading flat within the 1850 and 1817.80 levels.

The Stochastics oscillator is currently slipping into the oversold level. This could indicate further near-term downside.

Stronger price action is, however, expected on the back of fundamentals. This is especially regarding the Coronavirus stimulus bill.

About the Author
“John Benjamin Resident Analyst at Orbex. John has over 8 years of experience specializing in the currency markets, tracking the macroeconomic and geopolitical developments shaping the financial markets. John applies a mix of fundamental and technical analysis and has a special interest in inter-market analysis and global politics.” [space height="10"] At Orbex, we are dedicated to serving our clients responsibly with the latest innovations in forex tools and resources to assist you in trading. Please Director at Visit our site for more details.

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