Gold Daily Analysis : 01 March 2021

The daily analysis of gold on March 1, 2021 will discuss the movement of Gold for several days experiencing a sharp decline, in Monday trading earlier this week there is still a chance to decline in the Asian session. The decline in Gold prices is the worst monthly decline since 2016. The luster of Gold has begun to dim since the price touched the highest level in history in August 2020. The beginning of Gold's decline began to appear in November last year, after the discovery of a Covid-19 vaccine with an immunity level of 94%. This further increases the forecast that the world economic recovery from the pandemic will occur soon. The decline in gold last week occurred due to changes in investment instruments carried out by market participants. Investors are slowly starting to stay away from safe haven assets, especially Gold, and shift their investments to certain assets that are riskier. This attitude is due to market confidence that the Covid-19 pandemic that has attacked the whole world is gradually starting to be overcome, even though there is still a threat from a new type of variant of the virus. The greenback is increasingly showing its strength against other major currencies, as a result of rising yields on 10-year US government bonds. For the 10-year Treasury, it has jumped to a level above 1.6%, where this level was seen in February 2020 before the Covid-19 pandemic became more ferocious. This incident has made the stock market movement on Wall Street mostly red, especially for the technology stock index incorporated in the Nasdaq, which initially had made huge profits during the pandemic hit the world. Investors are more interested in dime stocks that were previously not paid much attention to, namely household component stocks and other home / property indices. On the other hand, news broke that the United States House of Representatives (DPR) last week, precisely on Saturday, had approved and passed a stimulus plan for a Covid-19 relief package worth US $1.9 trillion. Supported by the Democratic Party which currently controls the House of Representative (DPR) seats, it will be easy to pass the stimulus plan which will be continued to the Senate before finally being officially ratified. There were pessimistic signals about the stimulus plan, the doubts of market participants in relation to the Covid-19 relief stimulus package were hampered by rejection from members of the Republican Party, but the doubts and psychics subsided. This is because the Democratic Party plans to carry out a legislative political maneuver plan that allows the Democratic Party to still pass the bill even without the support of the Republican Party.

Gold Daily Analysis Prediction

Today's prediction on the EMAS pair is expected to continue its decline, and the recommended OP (Open Position) is SELL at the level of 1740.00, with a Target Profit (TP) of 5-10 points and a Stop Loss of 3-5 points. This the daily analysis of gold on March 01, 2021. Keep Money Management and Risk Management first in your trading. Visit GIC Indonesia to get information about the world of trading. You can also join us in the GIC Trade Telegram Community and GIC Trade Telegram Channel. Don't forget to check out the GIC Indonesia Youtube account which is full of a lot of information, and follow our Instagram account to get information about various interesting webinars that you can participate in.