SunSirs: Gold Market Outlook for One Week (April 8-12)
April 09 2024 14:47:57 SunSirs (John)
Technical forecast for this week's market: It is highly likely to operate in a positive direction
It is highly likely that the price of precious metal gold will continue to improve this week, and the probability of a turning point in gold prices moving downwards is extremely low. According to the prediction model of the SunSirs’ Commodity Analysis System, since March 3, 2024, the 7-day moving average of gold prices has crossed the 30 day moving average and started an upward trend. Currently, both moving averages continue to rise in the same direction. On April 7, 2024, it was estimated that the probability of a change in operating trend (i.e. a 7-day moving average crossing the 30 day moving average) occurring within the next 7 days is only 0.11%.
Monitoring of historical gold prices: a new historical high
At present, the price of gold has reached a new high and is at a historical high, with monitoring levels of 1 year of super inflation, 2 years of super inflation, and 3 years of super inflation. According to the Commodity Analysis System of SunSirs, the average gold price in the past three years is 415.61 RMB/gram, with a median value of 450.41 RMB/gram, a minimum value of 363.16 RMB/gram, and a maximum value of 537.66 RMB/gram. The low price difference (lower than the historical low price difference in the past three years) is 174.5 RMB/gram, and the top price difference (lower than the historical high price difference in the past three years) is 0.
Since April, the 30-day deviation from the average of gold has been above 20 RMB/gram, and the gold price is in a strong upward trend.
If you have any questions, please feel free to contact SunSirs with support@SunSirs.com.
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