Gold Forecast And Current Trend: Gold continues its corrective growth, trading at 1906.0 amid the formation of new factors that act as global support for quotations. The day before, Reuters published statistics on Chinese gold imports, according to which the PRC imported 52.821 tons of precious metal in April only through Hong Kong, which is 219% more than in the previous month.
Gold Uptrend scenario
Gold Forecast : An uptrend will start as soon, as the market rises above resistance level $1759, which will be followed by moving up to resistance level $1815.
Gold Trading Strategy 07-January-2021
Uptrend scenario :
The gold price uptrend may be expected to continue, while market is trading above support level 1914, which will be followed by reaching resistance level 1941 – 1950.