Gold price projections in May 2020
According to the model developed by the AXL Capital Management team, this report issues the projected levels of Gold prices for May 2020. For May 2020, the model indicates a lower limit of US $ 1,619 / 0z, and an upper limit of US $ 1,787 / Oz, the latter represents the maximum value since November 2012. When analyzing those results with technical price indicators, the conclusion made that if the upper lateral channel of US $ 1,742 / Oz breaks, the next level projected by the model is feasible to reach: US $ 1,787 / Oz. Chart # 1: The daily chart of the price of Gold shows a side-channel whose upper level is US $1,742 / Oz, and the lower level is US $1,671 / Oz. The US economy is reopening in many states, a slow recovery of jobs expected, which at the date of this report reaches a record historical figure of 33, 483,000 jobs lost from 03/21 to 05/02 (Data, Federal Reserve Bank of St Louis). That figure represents almost the entire Peruvian population.