Gold Daily Analysis : April 12, 2021

Today's daily analysis of gold on April 12, 2021 will discuss the movement of Gold prices which declined again in Friday trading last weekend, the decline of Gold returned to the level of 1740s after some time ago had touched its highest level at 1750s/troyounce. The decline in gold prices is the result of a strengthening in the US Dollar. The strengthening of the US Dollar will be discussed in more detail in the next paragraph. For today's Gold movement, Monday, April 12, 2021 in the Asian session, it is expected to continue its decline again. This decline is due to the still mighty US Dollar which is supported by several factors, for clarity will be thoroughly discussed in the next paragraph. Globally, Gold's movement last week experienced a limited increase and was higher than the price increase in the previous week. This increase occurred due to the weakness of the US dollar and the decline in the yield of 10-year bonds. In addition, the rise of Gold also received support from the "dovish" view of US Central Bank chairman Jerome Powell. Where in its meeting at the FOMC the Fed will still maintain to buy government bonds aimed at getting the American economy back on track. In addition, the Fed will also maintain interest rates at the lowest level until an undetermined time. On the other hand, Fed Chairman Jerome Powell in an IMF seminar held virtually said that the recovery of the United States economic level has not yet occurred evenly and comprehensively. The US dollar moved quite dynamically in today's market trading. Previously last week, the movement of the Greenback had weakened against several other major currencies. The weakening of the US dollar currency occurred because it was weighed down by several factors, including the decline in the yiled US government bonds with a tenor of 10 years. As we know, Powell's statement as the chairman of the US Central Bank who gave a "dovish" view also overthrew the US Dollar. Not only that, the weakening of the US dollar is also burdened by the release of negative economic data. This week it is predicted that the US dollar will strengthen again, this can be seen from the increase in the yield of American government bonds for a long period of time. In addition, the strengthening of the US dollar was supported by the release of encouraging inflation data. However, market participants will focus on the release of economic data this week, including CPI (Customer Price Index) data, then Core CPI. In addition, it will be on the agenda again on the agenda of the US Central Bank chairman Fed Powell speaks, plus there will be the release of Retail Sales and Core Retail Sales data.

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 April 12, 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.