Gold Daily Analysis : January 18, 2021

The daily analysis of gold on January 18, 2021 today discussed the movement of Gold in trading on Friday last weekend declined, even after the release of negative US retail sales data. The decline in Gold was due to the strengthening of the US Dollar due to the physical demand for the Greenback due to concerns about a surge in global Covid-19 cases. Gold initially tried to rebound from its lows after the announcement of plans for a larger amount for a $1.9 trillion Covid-19 relief stimulus package. In addition, the statement of Fed Chairman Jerome Powell which gave a signal that interest rates will still be maintained and will not change in the near future. The US dollar moved limited at the beginning of this week (Monday 18 January 2021) due to the release of poor American economic data, coupled with the increasing number of Corona virus cases in the world, making investors more cautious. As a safehaven asset, the position of the US Dollar is very beneficial. Support for the US dollar has increased since Democrats won the US senate seat, which also pushed bond yields for 10-year tenors to soar. Gold's movement this morning is very volatile due to the release of China's GCP data. Before the data was released, Gold plummeted from the level of 1829 to the level of 1803, due to the panicked behavior of investors. However, as soon as the release of good Chinese GDP data from the previous quarter and above the prediction, Gold jumped up again. China's GDP data was released at 6.5%, above the prediction of only 6.2% and from the previous quarter which was only 4.9%.

Gold Daily Analysis Prediction

Today's prediction on the EMAS pair is expected to continue the decline, and the recommended OP (Open Position) is SELL at the level of 1820.00, 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 January 18, 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.