Spot Gold Trend Sideways: Bullion prices shed weekly gains on Friday after the US reported stronger than expected private payroll numbers. The improved job market report has raised market expectations of aggressive rate hikes and eased worries over recession. The US Nonfarm payrolls rose 528,000 last month, more than double economists’ estimates.
Spot Gold
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Gold Holds Drop After US Jobs Data Support Rate-Hike Outlook
Gold held its biggest decline in two weeks after strong US jobs growth tempered recession fears, suggesting the Federal Reserve is likely to persist with steep interest-rate hikes to curb inflation.
Gold is Now Knocking on The Door of $1800 [HINDI]
जुलाई के महीने में ईटीएफ में सोने के बाजार में बहिर्वाह देखा गया। यह कीमतों में गिरावट के साथ मेल खाता है जहां जुलाई में हमने देखा कि सोना $1700 से नीचे जा रहा है। जुलाई में करीब 81 टन बहिर्वाह देखा गया। जुलाई वह महीना भी था, जहां पिछले 3 सालों में नेट शॉर्ट सबसे ज्यादा पहुंच गया था। मजबूत अमेरिकी डॉलर के रूप में भी सोने को विपरीत परिस्थितियों का सामना करना पड़ा, नरम विकास आंकड़ों के बाद ब्रेंट क्रूड की कीमतों में गिरावट और कम निहित अस्थिरता।
Gold Holds Decline After Fed Officials Make Hawkish Comments
Gold held a decline as a resurgent dollar and bond yields weighed on the precious metal, with investors assessing an apparent hawkish turn from the Federal Reserve.
Gold Looks Limited to $1,790
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.
GOLD SILVER FORECAST – BULLION MAY WEAKEN IN DAYS AHEAD
Bullion Weekly Forecast : Gold (Yellow Metal) has shown some good strength recently as it comes off support created via a couple of lows formed during 2021. The $1685—$1690 area is looking like a good floor for now, but the bounce may be put to the test this coming week.
Gold Recovery Facing Hurdle at $1755—$1765
Gold Price Forecast: The recent recovery in the precious metal (Yellow Metal) is facing its first key test on the topside with hurdle situated at $1755-$1765. While this may cap on its first approach, a break and close above $1765 would be very encouraging, opening the doors towards a move to $1810.