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

Gold has renewed 9-year maximums

Strong decrease of USD pushed gold's value up to new 9-year maximums. Gold price tested the $1,865 mark this morning.


Investors continue to actively buy precious metals against the backdrop of general economic instability and active actions by the world central banks and governments to increase stimulus measures, which inevitably leads to the depreciation of national currencies. The strongest influence on gold is still exerted by the denomination currency - USD.


Regarding the US Congress, an active debate continues on the topic of new stimulus package amid the spread of the pandemic and the introduction of new quarantine measures in many states. The previous stimulus package expires this month.


Investors are also worried about the next escalation in relations between the United States and China. On Tuesday, the US Department of Justice accused China of sponsoring hackers who tried to obtain data from a laboratory that is developing a vaccine against COVID-19. 


Presumably, the hackers have been working for Chinese intelligence since 2014, and during this time they were able to steal valuable information on intellectual property, weapon prototypes, drugs and medical research.


In the economic calendar today it is worth paying attention to the publication of data on sales in the secondary housing market in the United States.


Now the price is at the level of 1860.00. If bulls overcome this mark, we can most likely expect growth of quotations to 1870.00. Otherwise, we should expect a formation of a rollback movement to the area of ​​1840.00.


Resistance levels: 1860.00, 1870.00, 1890.00;


Support levels: 1855.00,1840.00, 1817.00.


The main scenario - a breakdown of resistance at 1860.00 and growth to 1870.00.


An alternative scenario - a correction from the current levels to 1840.00.


The current fundamental outlook is moderately positive. We would consider longs from the level of 1840.00

Latest news

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

Deposits are even more profitable now!

2021-02-01 11:29:44

Only until February 26, special deposit rates* are available for all traders in Malaysia, Indonesia, Vietnam and Thailand: 3.6 MYR = 1 USD 10 000 IDR = 1 USD 20 000 VND = 1 USD 25 THB = 1 USD *Only Local bank deposit method is included Hurry up to take advantage of the offer until […]