Gold Reached Its First Target

... following up on the previous article "Gold Becomes Interesting for Investments":

Gold has appreciated 7% over the last month

The price of one ounce of gold on the international exchange increased by 100$ per ounce, from 1400$ at the time of the previous analysis (but without a correction toward the 1360$ level), to 1530$ last week. As a result, the GOLD quote reached the first important obstacle for medium-term investments.

Investors who managed to enter gold can now make one of two decisions:

• take profit near the 1500$ resistance zone, then plan a re-entry after a possible price decline or after an upward breakout pattern through the 1500$ zone, with a target toward the 1770$ zone;
• keep the gold investment for the long term and add to the position during continuation patterns of the global upward trend.

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As we explained in the previous article, at that time an ounce of gold on the financial exchange cost 1400$, so in Moldova one gram of gold cost 821.62 MDL at an exchange rate of 18.10 MDL for 1 USD. In that example, we demonstrated how we can estimate the price of one gram of gold in Moldova when we have certain data. Today we already have new real data, so we can make a real calculation:

Now an ounce of gold on the international exchange costs 1498$, meaning it is 7% more expensive than on the day of the previous article. The Moldovan leu has also strengthened by 3.16% after the new government was appointed in June, and today 1$ costs 17.55 MDL. Still, from July until now, the pace of appreciation in the international gold price has been faster than that of the Moldovan leu, so the price of one gram of gold in Moldova is now 856,30 MDL, which is 4,22% higher than on the day of the previous article.

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Risk warning: This article is for information and education only, reflects the situation as of its publication date and does not constitute investment advice, an offer or a recommendation to buy or sell any financial instrument. Trading leveraged instruments (Forex, CFDs) and crypto-assets carries a high risk of losing your capital. Past performance does not guarantee future results. Before investing, assess your objectives and risk tolerance and, if needed, consult a licensed adviser. Details: Disclaimer & Risk Warning.