Yellow Metal Trade Reports: Commodity prices traded lower with most of the commodities in the non-agro segment ended lower during the week as stronger dollar and recession fears dampened demand.
Copper fell for the third consecutive day since August 2021
Copper Forecast Today: Copper futures on COMEX stand on slippery grounds near $4.00, poking the lowest levels since August 2021, as economic fears weigh on the industrial metal during early Monday in Europe.
MCX Gold Tips For Next Week | Gold Buying Level is Rs 49750-49550
MCX Gold Tips For Next Week: We saw a sharp fall from $1,840 to $1,817 yesterday after news of Russian officials and Ukraine officials meeting flashed. However gold reversed those losses and gained till $1,857.
Fed Forecast for July Month: Powell revives Expectations for a 50 bps hike
Fed Forecast for July Month: Gold remains on track to post weekly losses. Next week, FOMC Chairman Jerome Powell will testify before Senate on Wednesday. If Powell suggests a 50 basis points (bps) rate hike in July, the yellow metal could gain traction, FXStreet’s Eren Sengezer reports.
Gold Forecast for Today By Neal Bhai [17-06-2022]
Gold Forecast for Today: Gold Price lost its bullish momentum on Friday. The Fibonacci 23.6% retracement level of the latest downtrend and the 20-day SMA form the first resistance at $1,850. In case gold starts using that level as support, it could target $1,868 (50-day SMA, Fibonacci 38.2% retracement) and $1,892 (100-day SMA).
Gold Price Forecast: Buyers need to Break $1,858 Level for Bulls
Gold Price Forecast: The Technical Confluence Detector shows that Gold Price is testing bids at $1,840, where the SMA10 one-day coincides with the Fibonacci 61.8% one-week.
Gold Near Term Target Price $1,868—$1880 | Yellow Metal is Bullish
Gold Near Term Target Price: The American dollar appreciated throughout the first half of the day but rotated south with Wall Street’s opening.