Gold and coin prices today, July 20, 2020 / Gold climb and move to the historical ounce peak

According to analysts, gold has entered a new price range this month (July) . Market expert Daniel Pavilonis believes that if the price of an ounce can touch and cross the $ 1829 mark, it will make a  golden ascent and this precious metal will be able to move to the historic peak of the ounce.

In today's market, each coin of the new Azadi spring has been priced at 11 million and 380 thousand Tomans and the half spring of Azadi has been priced at 5 million and 680 thousand Tomans. The price of an ounce of gold in world markets has reached 1810 dollars and 80 cents.

According to the site of CofeTala , gold was traded around $ 1800 last week and was traded for moments above this border and for moments below this border. Market analysts consider two scenarios for the short-term future of gold, given the slight downturn and fluctuations in gold; Re-rally of gold and rise to higher price ranges or lower prices due to lack of demand in the markets.

Daniel Pavillonis, a market expert at RJO Futures, believes that if gold can break the $ 1829 resistance level, the precious metal can move to the historic ounce. "Gold is building a strong barrier around the $ 1,800 border," he said. If the ounce price can cross the $ 1829 mark, it has a golden uptrend and a good position to reach the $ 1923 price. The market analyst also added about the direction of gold price movement: "My prediction is that in the coming weeks, gold can break the first border and move towards a historic peak."

7% increase in 6 weeks

Gold last week was able to maintain its strength above the $ 1,800 mark. But the main question for analysts and traders for the coming weeks is, does this stop and strong position above the $ 1,800 psychological level mean a return to the lower price range, or will the gold price rise for six consecutive weeks continue into the seventh week?

The value of the ounce increased by more than 7% during these six weeks, so that it could finally finish its work at the price of $ 1810 at the end of the past week. The two main reasons for the unprecedented rise in gold prices over the past month and a half are the resurgence of coronary heart disease and the resurgence of trade tensions between the United States and China. Two factors that, if the source is eliminated, can immediately withdraw their support for gold, and if this scenario materializes, the price of the yellow metal is likely to fall significantly. But at the moment, given that all the gold-backing factors are active in the markets, the general atmosphere of analysts' forecasts still indicates that the gold ounce price continues to rise  .

New ounce price range

According to analysts, gold has entered a new price range this month (July). While the gold trading range for May and April was around $ 1668 to $ 1750, this safe haven range for $ 1750 to $ 1830 for July. This is in light of the fact that some technical gold analysts see the $ 1,800 mark as the new support line for gold if the stimulus factors remain.

Technical boundaries of gold

Despite the gold and the rise of the metal, expert analysis shows that the ounce still has the potential to rise in price and reach a historic peak in the coming weeks.

The revaluation of the US dollar index, along with the turbulent geopolitical situation in the world, could continue to increase the value of the ounce, among other factors, including the corona . Afshin Nabavi, senior vice president at MKS SA, has set the ounce floor price at $ 1,800 and the ceiling for next week at $ 1,820. He added that if the $ 1820 border is broken and the price moves higher, access to the $ 1850 and $ 1900 borders will be possible.

However, another group of analysts has warned investors about the current correction in the price of gold. According to the group, it is unlikely that gold will return below $ 1,800 in the coming days, even if the yellow metal price trend is generally upward.

The price of gold and coins today, Sunday, July 20, 2020

According to the Tehran Jewelry Union, today, Sunday, July 20, 2020, the price of each coin of the new Azadi spring design is 11 million and 350 thousand Tomans and each coin of the old Azadi spring design is 10 million and 900 thousand Tomans so far.

Accordingly, each gram of 18-carat gold is priced at 1,103,462 tomans in the Tehran market. The price of an ounce of gold in world markets has reached 1810 dollars and 80 cents.