Gold Daily Analysis : 22 March 2021

The daily analysis of gold on March 22, 2021 will analyze the movement of Gold at the end of last Friday's trading in general. The increase in gold was due to a momentary switch in investment instruments carried out by market participants, even though at that time the strengthening of the US dollar was still happening and the yield of bonds for 10-year tenors still continued to rise. In the market movement at the beginning of this week in the Asian session, it is expected to decline if the strengthening of the US Dollar and the increase in US government bonds continue to increase. The gold shine for Monday earlier this week is assumed to move downwards, this decline is due to the interest of market participants in riskier investments. Although the problem of the Covid-19 pandemic is still a problem for countries in the world. However, there are things that can make the price of Gold move up, including the return to the extension of the lockdown in Germany until next April. The problem of concerns about the Covid-19 vaccine made by Astrazeneca in the European Union and the UK has further made the Gold movement able to gain momentum for a rebound. Tensions between the US vs China are volatile again, plus between Tehran-Washington which has joined the Saudi-Iranian dispute could be the right switch for Gold. On the other hand, Turkish President Tayyip Erdogan surprisingly dismissed the position of chairman of the Central Bank of Turkey on Saturday. Greenback menguat terhadap beberapa mata uang utama lainnya dengan kenaikan yield obligasi AS yang masih terus berlanjut. The strengthening of the US Dollar is also supported by US-China tensions that can trigger a shift in investment instrument sentiment which will ultimately benefit the Greenback's position as a safe haven currency. In addition, US bond yields still support the bullish Dollar at this time. The outlook for U.S.-China trade relations deteriorated after high-level diplomatic talks last week in Anchorage, Alaska. The meeting gave the public an idea that President Biden did not fully maintain a tough stance like previous president Donald Trump had toward China. Although the first phase of the agreement last year has made Washington and Beijing have succeeded in carrying out a ceasefire during the trade war between the two. Envoys from both sides are still discussing and discussing trade competition and the economic level until this moment.

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 1730.00, 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 22, 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.