Gold Technical Reports: Experts see rebound next week with an average target of $1,818. Both the monthly and the quarterly forecast show that the bullish expected to remain intact.
Gold Weekly Report: Next Week Eyes on US CPI Data | Gold Silver Reports
Consumer Price Index (CPI): The first high-impact data release of the week will be Tuesday’s CPI report from the US. Cleveland Federal Reserve Bank President Loretta Mester said on Friday that she sees upside risks to the inflation forecast and voiced her support for tapering to start before the end of the year. On a similar note, Atlanta Federal Reserve President Raphael Bostic noted that it would be appropriate to taper sometime this year.
Spot Gold Holds Near $1,790, Upside Seems Limited | Neal Bhai
Spot Gold traded with a mild positive bias through the mid-European session, albeit continued with its struggle to find acceptance or build on the momentum beyond the $1,790 round-figure mark.
MCX Copper Tips Enjoy Tons of Money 720 to 743.75 Full Target Hit | Neal Bhai Reports
Copper prices are in a somewhat similar position to crude oil, with a rising trendline from the February swing low currently resting shortly above.
MCX Natural Gas Blast 342 to 369.90 | Neal Bhai Reports
MCX Natural Gas yesterday settled up by 7.79% at 362.5 driven by a bullish mix of expectations for higher demand due to warmer weather projections and sustained outages due to storm Ida while also tracking a rally in global gas prices.
Gold bears look to $1,758, ECB PEPP verdict in focus
Gold justifies the technical breakdown amid sour sentiment during early Thursday. That said, the yellow metal holds lower ground near $1,790, the lowest in two weeks by the press time. Fed tapering woes, virus-led economic fears and stimulus chatters keep bears hopeful.