Gold Daily Analysis : January 28, 2021

The daily analysis of gold on January 28, 2021 will discuss the movement of gold declining quite sharply, this is due to the attitude of the chairman of the US Central Bank of the Fed "Jerome Powell", where in the results of his meeting on Thursday (January 28, 2021) early this morning have taken a stance to maintain the interest rate at a low level (0% - 0.25%). In addition, the decline in Gold was also pressured by the strength of the Greenback in the market. Although the strengthening of the US dollar currency occurred amid concerns among market participants in the midst of an economic stimulus plan from President-elect Joe Biden which is predicted to not be as fast and as big as expected. Regarding its first policy decision in 2021 early this morning, the US Federal Reserve maintained a stable monetary policy, as predicted by investors. But on the other hand, Fed Chairman Jerome Powell warned that the US economy is still far from fully recovering, the Fed chairman's statement was digested by market participants as a negative signal for the US Dollar. At the FOMC meeting on Thursday, January 28, 2021 in the early morning, it finally maintained a low interest rate in the range of 0% to 0.25%, in addition to maintaining a monthly bond purchase rate of US$ 120 billion. In his quote, US Central Bank chairman Jerome Powell said "The economy is still far from expectations and job availability and inflation rates, to achieve both things it will take a considerable time to achieve further substantial progress". Investors' focus today is on the release of Advanced GDP (USD) data which will be released at 20:30 WIB. is expected to see a 4.2% increase, which with the Atlanta Fed GDP now showing a stronger 7.5% increase," said National Australia Bank (OTC: NABZY). Going into 2021, the first quarter GDP growth is predicted to weaken due to new virus restrictions, but growth after that is expected to pick up sharply as vaccines are rolled out and strict lockdowns begin to ease."

Gold Daily Analysis Prediction

Today's prediction for the EMAS pair is expected to continue the decline, and the recommended OP (Open Position) is SELL at the level of 1830.00., with a Target Profit (TP) of 5-10 points and a Stop Loss of 3-5 points. This the daily analysis of gold on January 28, 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.