Gold Daily Analysis : April 19, 2021

The daily gold analysis for April 19, 2021 will discuss today's gold movement. In market trading last weekend, Friday, April 16, 2021, Gold managed to move up and reach its weekly high. The increase in gold is supported by the weakening of the US dollar currency and the increasing tension between the United States and China. In addition, the increase in gold prices also received a boost from reports about the surge in the number of Covid-19 patients in India. The increase in the number of Covid-19 patients occurred as a result of a religious event called the Kumbh Mela festival which was held on the north side of the city of Haridwar. Where the religious event has caused the gathering of hundreds of thousands of people who gather along the Ganges river and without regard to health protocols. With the increasing number of Covid-19 patients in the world, Gold will shine more and make it an investment choice by market participants. This is reflected at the beginning of the Corona case in the world which originated in China, causing the price of Gold to jump sharply. For today's market movement, Monday, April 19, 2021, in the Asian session, it is estimated that the price of Gold will continue its increase. The greenback weakened against several other major currencies, this weakness was due to the decline in the yield of US government bonds. The US Dollar's weakness is at its lowest level in 4 weeks. For US bond yields with a tenor of 10 years, it decreased and touched the lowest level in 1 month at 1.528%. It fell from its highest level in March at 1.776%. The dollar index, which is the benchmark for the strength of the American currency, has fallen by 0.111% to 91.561 and is its lowest level since March 18. Analysts and some market participants predict that the weakening of the US dollar will continue. This is also supported by the statement of one of the San Francisco Fed officials "Mary Daly" who said that the US economic rate is still far from the "substantially advanced" term that the central bank has planned for an inflation rate of 2%. In addition, the number of new job openings is also still far from the target that has been determined. This fact is an illustration that the rebound in the American economic rate is still far from reality.

Gold Daily Analysis Prediction

Today's prediction for the EMAS pair is expected to continue its gains, and the recommended OP (Open Position) is BUY at the level of 1785.00, with a Target Profit (TP) of 5-10 points and a Stop Loss of 3-5 points. This the analysis of the gold daily on April 19, 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.