Gold Price Forecast Today: Gold gains ahead of the ECB meeting policy today where a 75bps rate hike is expected. Dollar index rally was overstretched and yesterday we saw some pullback in the safe haven currency and US 10 yr Treasury yield. This helped in all asset classes gaining some momentum on the upside including gold.
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Bullion Forecast Today: Gold High 50685, Resistance Key 50800
Bullion Forecast Today: Gold prices recovered sharply from a six-week low as a worsening energy crisis in Europe drove up safe haven demand. Metal price also witnessed gains, after U.S. data showed moderate wage growth in August and a rise in unemployment rate to 3.7% suggested the labour market was starting to loosen.
Gold Weekly Update : Bullion Trend Sideways, Trading Zone 50800 to 49500
Gold Weekly Update: The CFTC data showed that money managers have decreased their net long positions in gold by 9600 lots in last week. Silver prices traded lower with spot silver prices at COMEX plunged by 4.53% to $18.04 per ounce for the week. MCX Silver December futures declined by 3.91% to Rs 52637 per KG for the week. Silver prices traded down on demand worries over China economic growth and stronger dollar. The CFTC data showed that Money managers have increased their bearish silver bets by 5,425 net-short positions to 21,059 to three year high.
MCX Gold Price Forecast: As Expected Gold Hit Full Tatget 50,587
MCX Gold Price Forecast: Although the yellow metal faces significant downside risks, it also benefits from tailwinds including recession risk, a price-responsive physical market, already scaled-back positioning and elevated inflation.
Gold Price Forecast: Keep Eyes on $1,707 and $1,692
Gold (Yellow Metal) exposed to additional downside risks: “The critical ADP Employment Change report will be published after a two-month break, potentially driving the next leg higher in the buck. An upside surprise in the ADP numbers cannot be ruled out, given the lower estimates at +200K in August. Gold’s next price direction remains south against a backdrop of higher rates and upbeat US data.”
Gold Forecast: Gold prices will fall for Today
Gold Forecast: Gold steadied a bit around $1750 after witnessing a fall in past few sessions. Dollar eased off a 20-year high, offsetting some pressure from expectations of the Fed keeping interest rates higher for longer to combat inflation.
MCX Gold to Trade Sideways: Support at Rs 50300 [29-Aug-2022]
MCX Gold Price Forecast: Commodity prices traded mixed with bullion prices declined for the week witnessing selling in the second half of the week. Base metals ended in green on tight supplies and China stimulus hopes. Crude oil prices traded higher gaining on lower supplies and expectation of OPEC output cut.
Gold Forecast For Today: Gold prices fall on Friday, Support 50,900
Gold Forecast For Today: Gold prices edged lower on Friday with spot gold prices at COMEX were trading marginal down near $1756 per ounce in the morning trade. MCX Gold October futures traded steady near Rs. 51642 per 10 gram.
Gold Prices To trade sideways: Powell’s Jackson Hole Event Speech Eyed
Gold Price Today, Gold Price Outlook, Gold Price Forecast: COMEX gold trades modestly higher near $1770/oz supported by weakness in the US dollar and pause in US bond yields as market players position for Fed Chairman’s comments at the Jackson Hole Symposium. With mixed US economic data showing signs of stress in the economy, market players are assessing if the Fed may take a less hawkish stance.
Gold Silver to Remain Volatile on Growth Worries, Inflation, Geopolitical issues
Gold silver price trade steady after inching lower in the previous session, as the dollar and Treasury yields pulled back slightly after U.S. FOMC minutes hinted policymakers may be less aggressive on future rate hikes.