Gold Forecast: Gold prices held firm after a rally witnessed in the past few sessions, hovering near two-week high, helped by a subdued dollar, while investors awaited U.S. inflation data that could provide cues on the Federal Reserve’s interest rate hike path.
Spot Gold
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Gold Rises on Weakening Dollar Ahead of US Inflation Data
Bullion Market Forecast: Gold gained as the dollar continued to retreat from a record high ahead of US inflation data that could bear on the Federal Reserve’s monetary policy.
Gold Price Short Term Forecast [08-09-2022]
Gold Price Short Term Forecast: The Gold (Yellow Metal) pair neared a critical Fibonacci resistance level before resuming its slide, the 61.8% retracement of its July/August rally at $1,730, a sign that bears are willing to add on spikes. In the daily chart, the bright metal is developing below bearish moving averages, while technical indicators hold within negative levels, the Momentum flat but the RSI turning lower, in line with further slides ahead.
Spot Gold Forecast: Bullion Looks to extend correction
![MCX Gold Target 98,500 Very Very Soon, Buy on Dips [21 April 2025]](https://www.goldsilverreports.com/wp-content/uploads/2020/03/gold-052904-gsr.jpg)
Spot Gold Forecast: The US markets will be closed due to the Labor Day holiday on Monday and as such market action is likely to remain subdued. In the early trading hours of the Asian session on Tuesday, the Caixin Services PMI data from China will be watched closely by market participants. A reading below 50 could remind investors of the slowdown in the world’s second-biggest economy and hurt gold. On the other hand, an unexpected improvement in the data could help the market mood improve, providing relief for the precious metal.
Spot Gold Heads for Fifth Monthly Drop as Fed Stays Hawkish on Rates
Spot Gold headed for a fifth straight monthly drop, the longest losing run in four years, as more robust monetary tightening by the Federal Reserve looks likely.
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 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.