The daily analysis of gold on September 6, 2021 from
GIC this time will discuss the movement of gold in a very
volatile range in the market trading last Friday weekend in the American session. Gold managed to touch its weekly high of $1833.83/troy ounce. This is due to the release of
NFP data,
Unemployment Rate data and
Average Hourly Earnings data. These three data are only the
NFP that was released disappointingly, where the US monthly unemployment rate was released as predicted at the level of 5.2%. Meanwhile, the hourly wage rate in the release actually increased, namely 0.6% from the prediction of only 0.3% and in the previous month at the level of 0.4%. The condition of the US Dollar
currency is currently still at its weakening level, where the Dollar Ass index is at the level of 91.941, which is the lowest level since August 4, 2021 and ended at the level of 92.014. The movement of the US Dollar index has weakened by around 0.7% in last week's trading. Although the US Dollar weakened the effect of yesterday's NFP data release, the movement of
Gold still did not show a massive increase. This is because market participants are still waiting for the FOMC meeting to be held next week, precisely on September 22-23, 2021. This meeting will determine and will clarify the direction of Gold's next movement. At the FOMC meeting, we will discuss the tapering plan and then we will also listen to the Fed's view on the US
economic growth rate. In addition, it is also scheduled that the meeting will discuss interest rates, whether they will be maintained, raised or even lowered.
Gold Analysis 06 September 2021
Gold daily analysis this time in the prediction The gold trend will still try to be bullish but in limited movement.
Pivoit points = 1823.54 Support 1 = 1813.25 Support 2 = 1798.55 Support 3 = 1788.26 Resistance 1 = 1838.24 Resistance 2 = 1848.53 Resistance 3 = 1863.23 Stay wise in trading by paying attention to Money Management and Risk Management so that the continuity of your capital and trading continues. Thus the analysis of the gold daily on September 6, 2021. Still confused about how to read the analysis to be sure of profit? Don't worry, you can join the GIC Academy class. GIC Academy is a
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