Comex Gold Price Forecast Report By Neal Bhai Indian Goldman

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Comex Gold Price Forecast Report

Gold Silver Reports — Comex Gold Price Forecast Report By Neal Bhai Indian Goldman — Gold prices rebounded from session lows and generated a doji day which is an open and close at the same level. Prices were able to bounce of support near the 10-day moving average at 1,342.

Prices are continuing to form a bull flag continuation pattern which is a pause that refreshes higher. Solid Eurozone PMI manufacturing data along with softer than expected U.S. productivity weighed on the dollar paving the way for a rebound in gold prices. Prices are poised to test resistance near the January highs at 1,366.

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Momentum is negative as the MACD (moving average convergence divergence) index prints in the red. This will make it difficult for prices to break out despite a declining dollar. The RSI is also moving sideways which reflect consolidation. – Goldman Neal Bhai Reports