Gold Daily Analysis : January 22, 2021

The daily analysis of gold on January 22, 2021 will discuss the movement of Gold in Friday trading this weekend in the Asian session is predicted to still decline, due to the profit-taking action carried out by market participants after some time ago moving up. However, Gold's movement can still go up with a limited range. One of the factors that can push Gold up is due to the weakening sentiment of the US Dollar due to the promise that has been made by President-elect Joe Biden. As we know that Biden will disburse the Covid-19 stimulus package of US$1.9 Trillion. This Friday (January 22, 2021) the greenback moved in a weak condition at the beginning of this year, this weakness was due to the attitude of investors to sell the US Dollar and buy other currencies. This was done because investors digested that the US president-elect's plan would weaken the US Dollar currency. In addition, if the stimulus package has been rolled out, then they estimate that it will further put the US Dollar in a worrying condition. If you flash back to the beginning of January where the Democrats managed to win control of Congress, after 2 seats in the Senate were up for grabs. This condition makes the US Dollar currency mighty, this is driven by an increase in yields on bonds with a tenor of 10 years, although expectations in the market with the election of Joe Biden will weaken the US Dollar. As the market responds to Biden's election, there will be more fiscal stimulus and government borrowing under his administration.

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 1855.00, 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 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.