Analysis of Gold for December 31,.2020 – First upside target at $1.895 hs been reached. Second target at $1.906

ECB’s Weidmann says do not expect central banks to keep interest rates low forever

Bundesbank President and hence ECB board member Jens Weidmann in an interview with a German newspaper.

  • We expect Germany’s debt burden during the pandemic to be smaller than during the 2008 financial crisis
  • says he doesn’t expect second coronavirus wave to inflict more economic damage than first wave
  • German government’s emergency fiscal measures must be terminated once crisis unleashed by the pandemic is over
  • says 2021 general election in Germany should play no role in the decision to end or extend economic rescue measures
  • governments should not expect central banks to keep interest rates low forever
  • if price outlook requires it, there must be a turning point in terms of interest rates in euro zone
  • price pressures in euro zone are expected to remain subdued in coming years
  • a shift in interest rate policy can take some time
  • governments should prepare for interest hikes and not pretend that their debt burden is easy to service
  • ECB will not take into consideration public debt servicing costs if price stability requires higher interest rates
  • economic outlook ultimately depends on how covid infections develop after lockdown

Further Development

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Analyzing the current trading chart of Gold, I found that the price reached our first upward target from yesterday at the price of $1,895 and $1,905.

Key Levels:

Resistance: $1,905

Support levels: $1,885 and $1,905

The material has been provided by InstaForex Company – www.instaforex.com

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MOKAR

Author: MOKAR

Mula berdagang dalam pasaran forex sejak tahun 2003. Manakala pasaran bursa saham tempatan dan global pada tahun 2018. Menjadikan trading online sebagai kerjaya sepenuh masa pada tahun 2019. Kerjaya sebelum ini adalah seorang salesman kereta. Berpengalaman dengan pelbagai teknik dan perguruan tetapi akhirnya sangat serasi dengan teknik FMCBR @ Fibo Musang melalui guruku Cikgu Baha & Cikgu Zul.

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