UPDATED Gold Price Analysis May 2021 | Another Gold Rally Beyond 1850?

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Here is our updated video about Gold price analysis May 2021. Gold price today is trading in a range but it seems quite poised to continue its upside trajectory. The Labour Department released in its JOLTS report that monthly US job openings rose to a record high in March. It also showed evidence that hiring was lagging in March.

Job openings jumped to levels not seen ever since the tracking started in December 2000 or up to million. The Gold price analysis May was supported by the US data as the metal almost reached the $1850 barrier. The psychological resistance is still under attack as the Gold chart showed an impressive bounce yesterday from its daily lows.

The Gold price analysis today could be pointing to a short-term consolidation below $1845. As seen on the daily chart, Gold May 2021 is trading between the 50% and Fibonacci retracement levels. A break higher would signal a move towards $1880 January highs. A breach of the 50% retracement would push our Gold analysis to the downside towards $1787 lows or level.

Watch the full video for our take on Gold price May and a deeper insight into what to expect in the weeks ahead from our Gold price analysis. Drop us a line in the comments with your thoughts on Gold price prediction. To be notified about the latest Gold price forecast and news, subscribe to official channel, and click that notification bell.

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