ANALYSIS
NQ100 Finds Support from PPIApr 14
Ounce Gold Maintains Ascending Channel Movement
The improvement in investor risk appetite in international markets is a downside factor for precious metal demand. However, ounce gold, the leader of the precious metals group, continues to receive support from the Fed's interest rate hike expectations for September, which fell to 50 basis points and the number of coronavirus cases in China started to increase again. The ascending channel movement dominates the price outlook. In yellow metal contracts, where the buyers will remain above as long as the 1775 level is maintained as support below, exceeding the psychological borderline of 1800 may bring 1812, which was last seen on July 5. In case of possible sagging below 1775, 1762 support can be followed.
