20.05.202015:50 Forex Analysis & Reviews: Gold maintains an upward trend

Asian trading for today showed a rise in gold quotes.

According to the morning data from the New York Mercantile Exchange division, gold futures for delivery in June began to cost 0.51% more, which allowed them to take the mark of $ 1.754.55 per troy ounce.

The support of the precious metal was at the level of $ 1.716 per troy ounce, whereas the resistance was at $ 1.775.8 per troy ounce.

The situation on the mail precious metals market has not changed; the upward trend continues. After a minor correction the other day, gold continued a slow but gradual upward movement. Recall that now the price of precious metal tends to break through the ceiling of $ 1,800 per troy ounce. Moreover, many experts are inclined to believe that in the near future, it may well succeed if there are no global changes. However, if suddenly some stunning news collapses on the market only the level of the growth point will undergo changes, it is unlikely to redirect the upward trend itself.

For other metals, the growth trend continues. Thus, quotes of silver futures for delivery in July recorded a rise of 1.07%, which allowed them to be at around 18.093 dollars per troy ounce. Copper futures for July delivery also increased their value by 0.42%, their current level is at $ 2,419 per pound.