Monday’s uptick in gold prices was amidst shrinking open interest and volume, which is indicative that a probable corrective downside could be shaping up in the very near term. So far, price action in the yellow metal looks limited by the $1,790 mark per ounce troy.
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Gold Price Ready For Big Move; Gold Lower After Inflation Data
The gold futures contract lost 0.72% on Wednesday, as it retraced some of its Thursday’s-Friday’s rally. The gold price broke above a short-term consolidation along $1,800 price level last week.
Gold (Yellow Metal) Eyes Crucial Resistance Key at $1,852
Gold (Yellow Metal) Eyes Crucial Resistance: “The negative impact of the disappointing US labour market data is still being felt in the markets on Monday with the US Dollar Index slumping to its lowest level since late February near 90.00. Moreover, the benchmark 10-year US T-bond yield stays in the negative territory at 1.579% at the time of press, helping gold continue to find demand.”
Gold Price Analysis; Gold Shoots To Fresh Three-Month Tops on Disappointing US Jobs Report
Gold Price Analysis; Gold finally broke out of its intraday consolidative trading range and surged to near three-month tops, around the $1,843 region during the early North American session.
Gold (Yellow Metal) Chart of the Day — Gold Silver Reports
Gold (Yellow Metal) Chart of the Day: broke the $1800 level resistance yesterday, and while above the $1800 level the risk is for a move back to the 200dma.
Gold Price Analysis: Gold attempts another run towards $1800, as focus shifts to NFP
Gold Price Analysis: Gold is extending its range play within a $50 band below $1800 into the fifteenth straight session on Thursday, set to end this week with moderate gains. The bulls are eagerly awaiting the US NFP report for a fresh direction.
MCX Silver Target Today: All Target Price Hit 69700 To 68809 ⭐⭐⭐⭐⭐
MCX Silver Target Today: Silver yesterday settled down by 1.76% at 69649 as the dollar firmed amid likelihood of an increase in interest rates sometime in the foreseeable future.