flag-gb flag-my flag-zh flag-id flag-th flag-vi

Gold consolidates in a narrow range

Gold continues to consolidate in a narrow range due to the fact that divergent factors balance each other.


News on the spread of coronavirus and its impact on the global economy still provides support for gold. Today, the Governor of California announced a state of emergency. The state has confirmed 53 cases of the disease and more than 9,400 people being under the supervision of doctors.


Pressure on gold is exerted by the American dollar and news from the US on the introduction of new measures to stabilize the economy. The day before, the US Congress approved the allocation of an additional $ 8.3 billion to fight the Covid-19 virus. The American currency was also positively affected by news about the strong results of Joe Biden in the intra-party elections on Tuesday.


Today in the US economic calendar there is no important news, so the situation on the stock exchanges and geopolitical news will influence trading.


Bidding takes place in a very narrow range, located just below the level of 1647.00. While the price remains below this mark, the scenario with the development of a downward movement in the direction of the level of 1625.00 remains a priority.


Resistance Levels: 1647.00, 1660.00, 1680.00;


Support Levels: 1625.00, 1605.00, 1575.00.


The main scenario - a decline towards 1625.00.


An alternative scenario - a breakdown of resistance at the level of 1647.00 and an increase towards 1660.00.


The fundamental outlook is neutral. We consider shorts from the level of 1647.00.

Latest news

Deposit Bonus 200%

2021-04-13 10:05:09

Only from April 12, 2021, to May 14, 2021, Deposit Bonus 200% is available for all FortFS clients! Use the advantage to engage for the unique offer within a limited period: activate the deposit bonus and get up to 200% on the deposit amount on your trading account! How to get a Deposit Bonus of […]

Reduced spreads for popular pairs

2021-02-11 15:07:39

FortFS wishes all traders a Happy Chinese New Year! Only from February 8 to March 12, 2021, we reduce spreads for the 4 most popular trading pairs. New values*: EURUSDf: 0.8 GBPUSDf: 0.9 USDJPYf: 1.0 XAUUSDf: 3.5 *These values are valid only for FLEX accounts Hurry up to take advantage of the offer! Learn more about spreads: https://www.fortfs.com/clients/specifications