This Daily Analysis will discuss gold which is getting shinier in Monday's trading, the increase in the price of Gold touched its highest level at US$1868/troy ounce. The increase in gold prices is supported by market participants' concerns about the soaring Covid-19 cases in Asia. In addition, the uncertainty of China's economic growth prediction also drove up the price of gold. For market movements in today's Asian session, Tuesday, May 18, 2021, it is predicted that it will still try to continue its increase. The higher the American inflation rate, the more it will push the price of Gold to rise. The US Customer Price Index (CPI) economic data released last week was above the prediction and the previous period. Although the US inflation rate has increased, the attitude of the US Central Bank (The Fed) does not seem to be budgered by this, making bond yields also decrease. That is what causes many market participants to hunt Gold as a safe haven asset. The greenback weakened against several other major currencies. The condition of the US dollar currency is getting worse due to the declining bond yields and the increasing US inflation rate. The attitude of the chairman of the US Central Bank, which still maintains the previous policy, also weighed on the US Dollar. Some of the less encouraging US economic data released is also a factor in the weakening of the US Dollar. The economic data includes retail sales (Retail Sales) which were released below the forecast and the previous period. Some Fed officials are concerned about economic activity that has not been maximally evenly distributed across all sectors, although it must put aside the existing increase in the inflation rate and maintain the previous fiscal policy.

Daily Predictions

Today's prediction on the EMAS pair, is expected to continue its increase, and the recommended OP (Open Position) is BUY at the level of 1875.00, with a Target Profit (TP) of 5-10 points and a Stop Loss at 3-5 points. GOLD Chart Daily Analysis 18-05-2021
Preference BULLISH
Target Profit 1 1880,00
Target Profit 2 1885,00
Stop Loss 1 1872,00
Stop Loss 2 1870,00
This the daily analysis of gold on May 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.