Gold price finally break out the continuos losing sessions. In which Gold price in the Comex market record a rise today. While gold price in the Spot market recorded a rise by 0.20% to reach the level of $1388.50 USD/ Ounce of gold.
The rise of gold price in the Comex market was on of the reasons behind the rise of gold price. But for sure there is an external factors, we will know together. The USD starts to record a slight decline, by the middle of the trading day. It was the second factor supported the rise of gold price in the spot market.
We watch a decline in the US stock. Due to the gaining profit process after the huge rise yesterday. So by a lot of selling in the US Stock market, it makes a slight flow of money toward gold. It was one of the clear factors supported the rise of gold price.
Nikkei Stock recorded a rise today by the end of the trading session. I think, gold price will watch more support by the end of the trading session. The bad news, I did not think that gold price will get out from the narrow trading level between $ 1370 and 1400 USD/ Ounce of gold.
Gold traders, it is the only time to get in to the market, before the gaining profit process take place.